It’s likely temporal. Once FTX turned to deeply unethical business practices and depositors suffered real losses (even without knowing it), then any “profits” were morally owed to reimburse the depositors. If there were fraud against non-depositors as well, that would complicate things.
In any event, I think you could ethically keep any money that would otherwise go to equity holders, although it is unlikely this exists. Equity holders accept the risk of their agents (corporate management) going haywire in a way no other stakeholder does.
It’s likely temporal. Once FTX turned to deeply unethical business practices and depositors suffered real losses (even without knowing it), then any “profits” were morally owed to reimburse the depositors. If there were fraud against non-depositors as well, that would complicate things.
In any event, I think you could ethically keep any money that would otherwise go to equity holders, although it is unlikely this exists. Equity holders accept the risk of their agents (corporate management) going haywire in a way no other stakeholder does.