This is important: FDIC insurance protects you if the bank goes bust, but it doesn’t protect you if the company/fintech/exchange you’re using goes bust, even if

This is important: FDIC insurance protects you if the bank goes bust, but it doesn’t protect you if the company/fintech/exchange you’re using goes bust, even if they use an FDIC-insured bank. This exact issue came up repeatedly in the past few years with crypto companies whose FAQs and even executives falsely told people their deposited money was FDIC-insured simply because the company itself banked with an FDIC bank. That’s not how it works. One of many recent sad examples: https://mobile.twitter.com/Frances_Coppola/status/1543279013476683780 https://mobile.twitter.com/Frances_Coppola/status/1543279013... Another one: https://mobile.twitter.com/Frances_Coppola/status/1640909892952244225 https://mobile.twitter.com/Frances_Coppola/status/1640909892... (Frances Coppola is a great person to follow on Twitter.)