{"id":66116,"date":"2022-08-22T10:14:34","date_gmt":"2022-08-22T07:14:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66116"},"modified":"2025-09-06T23:40:03","modified_gmt":"2025-09-06T20:40:03","slug":"fdic-accuses-ftx-us-of-misleading-customers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fdic-accuses-ftx-us-of-misleading-customers\/","title":{"rendered":"FDIC accuses FTX.US of misleading customers"},"content":{"rendered":"<p><span data-descr=\"Federal Deposit Insurance Corporation\" class=\"old_tooltip\">FDIC<\/span><a href=\"https:\/\/content.govdelivery.com\/accounts\/USFDIC\/bulletins\/328cfe1\"> sent<\/a> FTX.US a demand letter ordering immediate measures to correct its &#8216;misleading&#8217; statements about deposit insurance.<\/p>\n<p>Similar complaints from regulators were received by<a href=\"https:\/\/fdic.gov\/news\/press-releases\/2022\/cryptonews-letter.pdf?source=govdelivery&#038;utm_medium=email&#038;utm_source=govdelivery\"> Cryptonews.com<\/a>, <a href=\"https:\/\/fdic.gov\/news\/press-releases\/2022\/cryptosec-info-letter.pdf?source=govdelivery&#038;utm_medium=email&#038;utm_source=govdelivery\">Cryptosec.info<\/a>,\u00a0<a href=\"https:\/\/fdic.gov\/news\/press-releases\/2022\/smart-asset-letter.pdf?source=govdelivery&#038;utm_medium=email&#038;utm_source=govdelivery\">SmartAsset.com<\/a> and <a href=\"https:\/\/fdic.gov\/news\/press-releases\/2022\/fdic-crypto-com-letter.pdf?source=govdelivery&#038;utm_medium=email&#038;utm_source=govdelivery\">FDICCrypto.com<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>Based on the evidence gathered, each of these companies made false statements [\u2026], that some cryptocurrency-related products or shares held in brokerage accounts are insured by the FDIC<\/em>, according to the press release.<\/p>\n<\/blockquote>\n<p>FTX chief Sam Bankman-Fried explained in response that the exchange is not part of the FDIC-insured institutions system, but that status exists for its banking partners.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1) Clear communication is really important; sorry!<\/p>\n<p>FTX does not have FDIC insurance (and we&#8217;ve never said so on website etc.); banks we work with do. We never meant otherwise, and apologise if anyone misinterpreted it. <a href=\"https:\/\/t.co\/MHMSMDE8Le\">https:\/\/t.co\/MHMSMDE8Le<\/a><\/p>\n<p>\u2014 SBF (@SBF_FTX) <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1560703537126019072?ref_src=twsrc%5Etfw\">August 19, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>We never meant otherwise, and we apologise if anyone misinterpreted this<\/em>, he said.<\/p>\n<\/blockquote>\n<p>Earlier, U.S. authorities <a href=\"https:\/\/forklog.news\/vlasti-ssha-potrebovali-ot-voyager-udalit-otsylki-na-zashhitu-fdic-depozitov\/\">required<\/a> Voyager to remove references to FDIC deposit protection.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FDIC sent FTX.US a demand letter ordering immediate measures to correct its &#8216;misleading&#8217; statements about deposit insurance.<\/p>\n","protected":false},"author":1,"featured_media":66117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1725,1236,36],"class_list":["post-66116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fdic","tag-ftx","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66116"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66116\/revisions"}],"predecessor-version":[{"id":66118,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66116\/revisions\/66118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66117"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}