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A comment on Sam Bankman-Fried found guilty on all charges. Parent comment

Re:Sam Bankman-Fried found guilty on all charges by starcraft2wol on Friday November 03, 2023 @08:23PM (#38136761)
You have it backwards. The deposits were used to fuel a separate trading business. All exchanges use customer deposits to grow their business.
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Re:Sam Bankman-Fried found guilty on all charges by daveguy on Wednesday November 08, 2023 @12:52PM (#38194179)
No. That is incorrect. A brokerage / exchange may not use customer assets for their own benefit. They are not a bank -- they are custodians. If they are doing that, they are committing a crime.

https://www.law.cornell.edu/cfr/text/17/240.15c3-3

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