I think you are missing context. FTX was supposedly FDIC insured until this came out this year: https://www.cnbc.com/2022/08/19/crypto-firm-ftx-receives-cease-a

I think you are missing context. FTX was supposedly FDIC insured until this came out this year: https://www.cnbc.com/2022/08/19/crypto-firm-ftx-receives-cease-and-desist-from-fdic-about-insurance.html https://www.cnbc.com/2022/08/19/crypto-firm-ftx-receives-cea...