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A comment on FTX Tapped into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall. Parent comment

Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by tartoran on Thursday November 10, 2022 @09:02PM (#33556441)
Whats the difference between FTX and Coinbase for example? Couldn’t coinbase pull the same move?
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Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by colechristensen on Thursday November 10, 2022 @09:09PM (#33556483)
Coinbase is a public company trading in the US, they are registered and regulated by the US. Reporting and auditing requirements make this kind of fraud much less likely and punishable earlier than collapse. Shareholder groups or the SEC suspecting this kind of fraud have many avenues to prevent, change, and punish this kind of fraud.

FTX was based in the Bahamas.

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Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by TedDoesntTalk on Thursday November 10, 2022 @10:55PM (#33557157)
Yep Coinbase is traded on NASDAQ and is subject to heavy regulation and reporting.
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