Not OP, but I presume the regulations would be important too. Part of being FDIC backed is maintaining a certain amount of currency that is VERIFIED. Issue her

Not OP, but I presume the regulations would be important too. Part of being FDIC backed is maintaining a certain amount of currency that is VERIFIED. Issue here is that there is no one giving confidence that Bitfenix has any currency at all, we have to trust their word.