> People have balances with PayPal, > which could potentially go bust or be looted." This is true. But PayPal's terms say that customer money is ringfenced: "T

> People have balances with PayPal, > which could potentially go bust or be looted." This is true. But PayPal's terms say that customer money is ringfenced: "These pooled amounts are held apart from PayPal’s corporate funds, and PayPal will neither use these funds for its operating expenses or any other corporate purposes" > There's no deposit insurance. This is not exactly true. As I understand it, some PayPal USD balances have FDIC insurance because the funds are stored at Wells Fargo in the customer's name: "If you have a PayPal Cash Card debit card as part of a Cash Account, have enrolled in Direct Deposit, or have established Goals in PayPal, such funds will have pass-through FDIC insurance as further detailed in the PayPal Cash and PayPal Cash Plus Account Terms and Conditions."