> If I were a retail investor who lost my savings in FTX, I might be feeling upset that the government is rushing to action in defense of billion-dollar funds whose own due diligence failed massively, while seemingly nothing is being done to help those who invested in crypto based on FTX's Super Bowl ads and celebrity endorsements...

It's not one or the other, he can be charged for both. It's up to the DOJ to file a criminal case, and they didn't arrest him for no reason.