Questions tagged [fdic deposit insurance]

emma_lewis_pilot Wed Jul 10 2024 | 5 answers 1458

Could you please elaborate on whether cryptocurrency companies are indeed protected by the Federal Deposit Insurance Corporation's (FDIC) deposit insurance? Given the volatile nature of cryptocurrencies and the growing popularity of crypto-related businesses, it's crucial for investors and customers to understand the level of financial security these companies offer. Does the FDIC's insurance cover deposits made in cryptocurrencies? Or is this insurance specific to traditional bank deposits? Clarifying this point would greatly assist in making informed financial decisions.