Beware: The companies that hold your crypto aren't insured the way banks are | CNN Business

Editor’s Note: This is an updated version of an article that first published on June 13, 2022. The “crypto winter” that hit earlier this year walloped digital asset prices and served as a healthy reminder that cryptocurrencies are highly risky, volatile investments. But now, in the wake of crypto exchange FTX’s implosion, crypto investors were reminded of another risk they face: Crypto accounts lack guaranteed protections when the exchange or platform provider goes belly up.

Bank and credit union accounts If you have a checking or savings account, a money market deposit account or certificates of deposit at a bank or credit union, make sure the institution has deposit insurance. Banks typically are insured by the Federal Deposit Insurance Corporation . Should your bank fail, that coverage will protect up to $250,000 per depositor for each account ownership category at an FDIC-insured bank.

Surely most people would know that. Why is this making news now?

VAE VICTIS !😈👎

No to any two competing currencies within the same currency system. Protection from banks at what value? Except cryptocurrency is negotiated as virtual version of Dollars..to earn viability, strength, exchange and convertibility..They didn't know implications

HosseinRonaghi was taken from Evin prison to Dey hospital in Tehran in dire conditions. All the surgical floor staff were threatened and kicked out of the floor by IR forces and replaced with IR affiliated staff. They are planning to kill him مهسا_امینی MahsaAmini

A wee bit late for the warning

Common crypto bro L

CNN lol please share your crypto knowledge

Funny how crypto is taxed like securities though.

Tonight the IR transferred hosseinRonaghi to Tehran Day Hospital, dismissed the hospital medical team and used it's own security medical force. The IR plans to kill hosseinRonaghi tonight! Hey world, please be our's and Hossein's voice MahsaAmini IranRevolution

scam

Given the crash, does this article matter?

You are telling me now ?

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