FDIC insurance does not cover cryptocurrency. Pass it on.
FDIC Insurance Does Not Extend to Losses Incurred From a Cryptocurrency Exchange March 14, 2023
There’s a lot of confusing discourse out there that probably amounts to misdirection and sales hype to promote cryptocurrency, which is bad, and possibly mislead people into thinking it’s as safe as a deposit account when it’s absolutely not. And going forward, with cryptocurrency moguls investing in many politicians, including the guy in the White House, and with the mass firings at all these federal agencies, scams and misrepresentation will get worse as regulation gets less. Buyer beware.
More on crypto and FDIC, the story so far: