[nemothekid]

>and outside the regulatory perimeter of the SEC.

I think that's the point? The SEC doesn't want an issue where Kraken loses all the funds because they didn't actually stake anything at all and instead were investing in tulip futures.

[babyshake]

Are you suggesting that exchanges might be misappropriating customer funds? I find that incredibly difficult to believe.

[nikanj]

https://www.cnbc.com/2022/12/28/ftx-used-200-million-of-cust...

[birracerveza]

I suppose that was sarcastic. Centralized exchanges are famous for misappropriating customer funds.

[rnk]

I hope it was sarcastic. At this point, are there any exchanges that aren't doing untoward things with their customer's assets? We basically have exchanges that failed doing this and other exchanges with ambiguous descriptions of what they have done that haven't failed yet.