CFTC Chairman Michael Selig noted that during the 2022 collapse of FTX, where founders misappropriated roughly $8 billion, the single FTX subsidiary registered with the CFTC preserved its customer assets intact

From the articleCFTC Chair Says Binance, Other Crypto Exchanges Will Be Able to Opt Into Federal RegulationAlso in Why CFTC's Federal Option for Centralized Exchanges Just Got Harder to Ignore