Although LevelField may become the first FDIC-insured bank to offer crypto services, that does not mean the bank will necessarily offer a safer way to invest in volatile digital assets. FDIC insurance protects bank depositors against losses of up to $250,000 in case of a bank failure, but cryptocurrencies are an asset class that remains uninsured by the Federal Deposit Insurance Corporation.
Source: https://www.coindesk.com/business/2023/02/01/banking-startup-levelfield-aims-to-become-first-fdic-insured-institution-to-offer-crypto-services/?utm_medium=referral&utm_source=rss&utm_campaign=headlines