The post Binance US Crypto Assets Are No Longer FDIC-Insured! appeared first on Coinpedia Fintech News
Binance’s American branch, Binance US, has informed users that their crypto assets stored with the exchange are no longer FDIC-insured. The firm updated its terms of service following guidance from the FDIC. Binance US had previously announced that accounts were insured up to $250,000 in a now-deleted blog post in 2019. The post stated that all USD deposits were held in pooled custodial accounts at multiple banks that are insured by the FDIC and maintained in a manner that provides access to pass-through FDIC insurance coverage up to the depositor coverage limit of $250,000.
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