SBF is the Elizabeth Holmes of the crypto world. Elizabeth was the CEO of Theranos who defrauded investors and will likely be sentenced up to 20 years in prison this week.

There is a general consensus that compares the fall of SBF and FTX to Lehman brothers that triggered the 2008 financial crisis. But the FTX fallout can be compared to Bernie Maddoff Ponzi Scheme and especially to Elizabeth Holmes who defrauded the Theranos investors of hundreds of millions.

Elizabeth Holmes was the tech’s sweetheart not long ago until her scheme was finally toppled. She founded Theranos Company that claimed it has developed technology that will revolutionize blood-testing industry. In 2015, her company was valued at 9 billion USD making her the youngest self-made billionaire. Her downfall was made possible by a series of journalistic investigations that challenged her claims in devising such technology.

In the scheme that is well-known by now, SBF lent billions of customer money to his other company, Alameda to invest in “risky” businesses. This is an illegal practice in other ventures, because lending customer funds should be carried out with their consent.

SBF and Holmes were both the sweethearts of their respective industry and people just assumed that they would do no wrong. They both kept defrauding their investors/customers. Both of them rode the hype train and people just ignored all red flags because people were so blinded by the hype. Holmes’ rise came with the implosion of Silicon Valley and SBF’s rise was the result of crypto revolution. Holmes romanced the COO of her company and dated him secretly. The way SBF has been running a polycule with Alameda CEO and other top ranking officials in his company.

Elizabeth Holmes, much like SBF is now worth close to zero. Elizabeth Holmes will likely be sentenced to 20 years in prison this week but let’s see what fate awaits SBF.

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SBF on cover of FORBES

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Elisabeth Holmes on cover of Fortune and Forbes magazines