The media is also culpable, because his face was always on it. I never used FTX, but I assumed that it was legit and regulated based upon his appearances on Bloomberg etc.
This seems to have been a case of XKCD 978, i.e. lazy journalists. https://xkcd.com/978/
Citogenesis is actually a Germanism stemming from "Zitogenese". [1]
Advising congress and buying formula 1 ads and sponsoring stadium names gave his scheme a certain unearned legitimacy.