“FDIC insurance does not protect a nonbank’s customers against the default, insolvency, or bankruptcy of any nonbank entity, including crypto custodians, exchanges, brokers, wallet providers or other entities that appear to mimic banks but are not,” the agency instructed.
How Bitcoin ETFs Are Changing the Risk-Reward Ratio for Institutional Investors
Prior to FTX, a lot of people put those risks aside and focus on price appreciation and gaining access to...