I have never heard of Bitcoin or any other crypto holdings being FDIC insured...do you have any references for that? I would be very interested to know if that is the case.
Also I highly doubt the FDIC will ever fail to pay out. The govt. will print whatever money is necessary to cover all the claims. Loss of bank deposits is what made the Great Depression what it was and they will make sure that never happens again, using money printing as the tool to prevent it.
That's true they are showing their hand, and they are straight up saying we will print to infinity before allowing the economy to seize. Coinbase is FDIC insured, as is Bittrex.
Google Bitch reporting for duty.
Sick burn! Too myself!
So only the USD on Coinbase is protected... lawls.
Guys want to charge protection-money without the protection.
Bad mafia, bad!
Yea that makes sense that the USD deposits are FDIC insured but not the crypto deposits. There's no way in hell the govt. would ever insure crypto deposits lol. Some exchanges do have private insurance, which is exactly how USD bank deposits should be insured.
Despite the name, the FDIC is NOT insurance because they don't price based on risk. It's one of the many ways that banks are encouraged to take ridiculous risks with people's money. If it was real insurance, then the banks could never afford it with how they are currently run, and then people wouldn't deposit their money with them (presumably).