More like Mt. Gox. FTX was downright fraud, from day one. SBF was already lying about Alameda's supposedly insane returns when it was all a ponzi.

He got tried and jailed for a long time for fraud.

Mt. Gox was just incompetence, like Binance here. But then on the other hand Binance is making so much money that to them $3.5 billion to cover the losses is just a slap on the wrist.