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Re:Binance Acquires FTX by lancesells on Tuesday November 08, 2022 @01:28PM (#33522433)
> Sam owns 8% of Robin Hood that is worth around ~$1B - he could sell that and cover some of the gap.

Not knowing too much about this space have you ever seen anything like this happen? A CEO using their personal wealth to cover their customers funds seems unlikely.

Re:Binance Acquires FTX by tanseydavid on Tuesday November 08, 2022 @03:21PM (#33523772)
Free Jon Corzine!
Re:Binance Acquires FTX by dmitrygr on Tuesday November 08, 2022 @05:23PM (#33525146)
> have you ever seen anything like this happen? A CEO using their personal wealth to cover their customers funds

No, but I would love to see it happen, enforced by a court, and backed by a promise of jail time if the CEO fails to comply in a timely fashion.

Re:Binance Acquires FTX by FormerBandmate on Tuesday November 08, 2022 @07:00PM (#33525915)
This isn’t a thing, limited liability (which is the fundamental principle that distinguishes corporations from partnerships) prevents this. The only way would be if SBF was charged with defrauding FTX
Re:Binance Acquires FTX by eftychis on Tuesday November 08, 2022 @11:41PM (#33527586)
That can't happen directly (I think). Mingling breaks the limited liability mantle.

He will have to buy equity or other product from FTX to infuse with cash. And if it is going bankrupt he has to stop running it to preserve the liability "shield" -- details of course depend on the country/state of organization/incorporation. I know nothing about the Bahamas.

Example: Elon for instance infused his own cash into Tesla, when it was going bankrupt. But he practically bought equity to my understanding.

Covering customer accounts is different, in a financial firm. I do not know what tools the Bahamas give to FTX. This is all uncharted territory. (Also there is legal exposure to other countries.)