FDIC He sent a letter to FTX.US demanding immediate action to rectify “misleading” deposit insurance claims.

Cryptonews.com, Cryptosec.info, SmartAsset.com, and FDICCrypto.com received similar requests from the regulator.

“Based on the evidence gathered, each of these companies made false claims. […]Certain crypto-related products or stocks held in brokerage accounts are insured by the FDIC” says the press release.

In response, FTX chairman Sam Bankman-Fried explained that the exchange is not part of the division-insured system, but its partner banks do.

1) Open communication is really important; I am sad!

FTX has no FDIC insurance (and we never said that on the website etc.); The banks we work with do. We never meant otherwise, and we apologize for any misinterpretations. https://t.co/MHMSMDE8Le

— SBF (@SBF_FTX) 19 August 2022

“We never meant otherwise and we apologize if anyone misinterpreted this” said.

Earlier, US authorities ordered Voyager to remove references to FDIC protection of deposits.

Recall that Republican Senator Pat Toomey requested that the department approve or deny cases of pressure on banks for their work with cryptocurrency companies.

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