Vitalik harshly criticizes FTX: it is a negative example of turning Ethereum principles "180 degrees".

According to Mars Finance, Ethereum co-founder Vitalik Buterin stated at the Devconnect conference in Argentina that the now-defunct cryptocurrency exchange FTX is a “counter-example” to the ethos of Ethereum. He pointed out that FTX relied on a centralized structure and required users to “trust that the platform would not act maliciously,” while the core of Ethereum is decentralization, transparent collaboration, and a “cannot-act-maliciously” technical design. In his speech, Vitalik opened with old remarks from Sam Bankman-Fried and emphasized that the centralized structure is the root cause of FTX's downfall; in contrast, all upgrades to Ethereum are reviewed and advanced by the community in a public environment. He stated that FTX is a “company,” while Ethereum is a “community,” and the two are fundamentally different in structure and values.