According to ChainCatcher, former U.S. Treasury Secretary Lawrence Henry Summers called FTX a typical fraud in an interview with Bloomberg TV.
He said: "FTX not only has financial problems, but also smells of fraud. The regulatory community should learn two lessons from this. First, it would be more helpful if we had fewer economists and quantitative analysts and more legal accountants; the other is that a rule should be made for all things involving finance, that is, every person in charge related to finance must be completely away from the office, away from the phone, away from any device and system connection for one or two consecutive weeks every year, so that some problems can be quickly exposed." (Source link)