What is the FDIC's coverage for brokerage accounts in the cryptocurrency industry?

1 answers

• Feb 18, 2022 · 3 years ago
  When it comes to brokerage accounts in the cryptocurrency industry, the FDIC offers coverage to protect eligible customer assets in the event of a brokerage firm failure. This coverage includes cash and securities up to the insurance limit. However, it's essential to note that the FDIC does not insure the value of investments or protect against market fluctuations. The coverage provided by the FDIC is limited to $250,000 per depositor, per insured bank. It's important to review your brokerage account agreement to understand the specific details of FDIC coverage for your account. If you have any concerns or questions, it's always a good idea to reach out to your brokerage firm for clarification.
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