Crypto has an Enron-sized scandal that threatens to completely undermine the trust proposition for its existence, regardless of Sam Bankman Fried's mea culpa tour. Why it matters: The house of cards built by Bankman-Fried has drawn several parallels, including Enron, Theranos, Bear Stearns, Lehman Brothers and Madoff Investment Securities. In that vein, there’s nothing really new under the sun — even with the head-spinning volatility that’s come to characterize the nascent market for digital currencies. We’ve sort of seen this movie before, and we suspect we know how it will end. The big picture: FTX's "first day ... (full story)