Recent investigative reports and trial documents have highlighted allegations of systemic fraud at FTX, the cryptocurrency exchange founded by Sam Bankman-Fried. Described as 'old-fashioned embezzlement', the fraudulent activities were not just incidental but were built into the very foundation of the company. This revelation comes from a series of interviews and documents related to Bankman-Fried's ongoing trial. Additionally, Bloomberg's 'The Big Take' podcast delves deeper into the extent of the alleged fraud at FTX, suggesting that the issues were more profound than previously understood.