FDIC Issues Cease and Desist Orders to 5 Crypto Firms Including FTX US Exchange

FDIC Issues Crypto-Related Cease-and-Rate to 5 Companies Including FTX US Exchange – Regulation

The Federal Deposit Insurance Corporation (FDIC) has sent a strike letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have FDIC insurance, stating, “We never meant otherwise, and apologize if anyone misinterpreted it… to be clear that FTX US is not FDIC insured.” FDIC orders 5 companies …

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