very few other crypto companies capable of paying that much. god knows ftx wasnt investing in observability

Not on purpose, but I could imagine someone at FTX signing up for datadog, configuring it to ingest their logs without doing any estimation or setting up any guardrails and then not checking on it because things were probably crazy over there.

Datadog's SEC filings indicated otherwise.

Since 2022 Q1, the allowance for doubtful accounts has remained under $6 million. Bankruptcy generally triggers a writedown of any associated receivables, so Datadog appears to not have had any material exposure to FTX or any other bankrupt customer.