As the trial begins, SBF is making the case that what he did is typical in the world of crypto. But when the government paints a much bleaker picture of FTX—one riddled with fraud and deception—what does that say about the industry? Guest: Nitish Pahwa, associate business and tech writer at Slate.If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get benefits like zero ads on any Slate podcast, bonus episodes of shows like Slow Burn and Dear Prudence—and you’ll be supporting the work we do here on What Next TBD. Sign up now at slate.com/whatnextplus to help support our work. Learn more about your ad choices. Visit megaphone.fm/adchoices