Behind the FTX scandal, a misguided utilitarian philosophy

The pangs suffered by Sam Bankman-Fried, the young American creator of the FTX cryptocurrency exchange platform, have been the delight of the Anglo-Saxon press for two months.

Beyond the picturesque anecdotes about the life in the Bahamas of these retarded students, the case is not very different from classic financial scandals.

FTX stole millions from investors by speculating, with their funds, but for its own account, on virtual assets that the platform had created itself.

Since the discovery of this massive fraud, the cryptocurrency bubble is gradually deflating, before an inevitable next recomposition of the sector.

After the resounding debut of bitcoin ten years ago

cryptocurrencies have found their place in the vast financial sphere.

They are now considered as one class of assets among others, reserved - because of their high volatility - for savers seeking thrills.

This speculative dimension...

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