Regulators have a weak case against FTX on deposit insurance
FTX made an error in messaging when it suggested depositors were insured, but federal regulators will have a hard time proving the exchange did so with sinister motives.
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FDIC Issues Crypto-Related Cease and Desist Orders to 5 Companies Including FTX US Exchange
The Federal Deposit Insurance Corporation (FDIC) has sent a cease and desist letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have…
FDIC Hits FTX.US With Cease-and-Desist Letter
The Federal Deposit Insurance Corporation has called upon FTX.US President Brett Harrison to take down a tweet suggesting that FTX.US was FDIC-insured. False and Misleading Statements FTX.US just ran afoul...
Deposits at non-bank entities, including crypto firms, are not insured — FDIC
The government agency said that while deposits at insured banks were covered for up to $250,000, no such protections applied to those at crypto companies.
Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims
Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the…
Stop Lying to Customers, Fed and FDIC Order Voyager
The two institutions called Voyagers deposit insurance claims false and misleading. Voyager Ordered to Stop Misleading Customers Voyager Digital allegedly lied to its customers that the government was insuring its...
FDIC Asks Thousands of Banks to Disclose Crypto Plans
The U.S. Federal Deposit Insurance Corporation (FDIC) has asked thousands of banks and other financial institutions it supervises to declare existing crypto activities and any plans they have to engage…
Federal Reserve, FDIC, OCC Discuss Allowing Banks to Hold Crypto on Balance Sheets
A group of U.S. banking regulators is working on how banks can be allowed to offer crypto services and hold cryptocurrencies on their balance sheets. The chairman of the Federal…
US regulators are exploring policy for banks to handle crypto, says FDIC chair
“Establishing clear regulatory expectations will be paramount to give this market an opportunity to grow and mature in a responsible manner,” said Jelena McWilliams.