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That means that the backers of GUSD have FDIC protection for solvency. If you "lose your keys" to your account, you lose your account, as is standard in crypto
by alisonkisk 5y ago
That means that the backers of GUSD have FDIC protection for solvency.
If you "lose your keys" to your account, you lose your account, as is standard in crypto; no KYC backup/protection.
In the middle you have "what if Gemini the business shuts down anyway, and stops letting you redeem GUSD for USD? You can sue, but legal expenses might eat away a lot of the value.