What Happened to MF Global?

In the US, you put your money in a bank, it says FDIC in a little placard. And more to the point, SBF is no SIPC either, right? Like when, we don't know what that is. When MF global was brought down by basically the same thing, which was rehypotocating customer funds. So there are very close parallels between what happened to FTX and what happened to MF global.