FTX’s money isn’t insured, FDIC says

FTX’s money isn’t insured, FDIC says

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FTX founder and CEO Sam Bankman-Fried.

The Federal Deposit Insurance Company (FDIC) slapped the Sam Bankman-Fried-owned cryptocurrency switch FTX with a stop-and-desist notify over “faux and misleading statements” that imply its property are FDIC-insured. The FDIC doesn’t hide shares or crypto, and entirely safeguards funds held in insured bank accounts…
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