FDIC sends cease and desist letters to FTX US, four others over insurance statements

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FDIC sends cease and desist letters to FTX US, four others over insurance statements
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The Federal Insurance Deposit Corporation is trying to snuff out claims the agency is backstopping customer funds held in certain crypto or stock brokerage accounts.

cease and desist letters to five companies accused of making “misleading” statements about whether crypto assets have federal deposit insurance support.

The entrance to the Federal Deposit Insurance Corporation , located across the street from the Eisenhower Executive Office Building, is viewed on June 6, 2017 in Washington, D.C.

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