Crypto's Biggest Villain? SBF Grabs Early Lead as the Celsius Boss Lurks in Second

Ser, a fresh market just dropped and the group chat is already on fire: who was crypto's most damaging villain? Nobody here is neutral, because half of us still have a bag-shaped scar from 2022. Trading opened less than a day ago and the crowd is already putting money where its trauma is.

Some context before we pick our fighter. According to Wikipedia's account of the trial, FTX and more than 130 associated entities filed for bankruptcy on November 11, 2022, and Sam Bankman-Fried was later convicted on seven charges and sentenced on March 28, 2024 to 25 years in federal prison. Prosecutors said he loaned customer deposits to Alameda Research. He pleaded not guilty to all charges.

Then there is the Terra side of the ballot. Per Wikipedia's Terra entry, the collapse of TerraUSD and LUNA in May 2022 erased almost $45 billion of market cap within a week. Do Kwon pleaded guilty to two fraud charges in August 2025 and was sentenced to 15 years. Celsius and Three Arrows Capital also failed in 2022, which is how the whole ballot got here.

So what does the crowd say? Sam Bankman-Fried (FTX) leads at 28% consensus with 16 holders, and Alex Mashinsky (Celsius) is the runner-up at 25% consensus with 14 holders. Also on the ballot: 2 other sides. That's 18 unique traders and $87,217 in money behind opinions, so this isn't just vibes. Remember, those percentages are conviction levels, not a headcount.

My take, and this is pure opinion from someone who has bought tops with a straight face: the leader makes sense. The FTX story hit a place that a token crash doesn't, because it happened where people thought their deposits were safe. Do Kwon's damage was huge on paper, but Mashinsky sitting second tells me degens remember the feeling of a locked withdrawal button. Number go up is fun until the button stops working. I'm ngmi on picking a single villain, but I'm not sleeping on this fight.

What to watch next: it's day one, so these rankings can flip fast, and the Terra and Three Arrows camps haven't shown their full hand yet. This data comes from opinion markets on Morfi, where people back their takes with real money. Join the market, make your case, and let your conviction do the shouting. This is not financial advice, just a fight.