The FDIC – a federal regulator tasked with overseeing bank stability in the U.S. – protects customers from losing their funds in the event of a bank collapse, insuring up to $250,000 per account. This insurance, however, usually only applies to an actual bank failure, not upon failure of the bank’s client, i.e. ,Voyager’s collapse wouldn’t necessarily trigger an FDIC backstop.
Crypto Broker Voyager Claims It Was FDIC Protected Draws Regulatory Scrutiny: Report
