Crypto Broker Voyager Claims It Was FDIC Protected Draws Regulatory Scrutiny

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.