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Crypto currency (IF banned from CA)

DuuuncanHadaPigeon said:
Cash is covered up to a point, after that you get nothing.

Cash is king until the FCSC says it's not.
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A very high point for your average person - $250k per depositor per bank. If as an individual you have more than 250k you can split it between several banks and have full insurance.

Deposit Insurance FAQs | FDIC

www.fdic.gov www.fdic.gov

Even if you don’t split it the chances that you will ultimately be made whole by either the sale of the assets (depositors are first in line in wind-down), an acquiring bank or the FDIC are high (although not 100% so good money management to split large deposits to stay under the 250k)
 
LinekersLegs said:
A very high point for your average person - $250k per depositor per bank. If as an individual you have more than 250k you can split it between several banks and have full insurance.

Deposit Insurance FAQs | FDIC

www.fdic.gov www.fdic.gov

Even if you don’t split it the chances that you will ultimately be made whole by either the sale of the assets (depositors are first in line in wind-down), an acquiring bank or the FDIC are high (although not 100% so good money management to split large deposits to stay under the 250k)
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In the UK it is £85k total across all bank accounts.

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Matt Levine from Bloomberg's newsletter has a good opener
A decent rule of thumb is that all cryptocurrency exchanges are doing crimes, and if you’re lucky your exchange is doing only process crimes. Today the US Commodity Futures Trading Commission sued Binance Holdings Ltd., Changpeng Zhao’s big crypto derivatives exchange, for letting Americans trade crypto derivatives. There are no accusations that Binance is stealing customer money, or even taking big risks with it, which makes Binance look better than some other crypto exchanges I could name. There are … look, there are not no accusations that Binance is laundering money for terrorists or secretly trading against its customers, but there are relatively few accusations like that; again, as crypto exchanges go, that’s pretty good.
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