FDIC–FTX spat is another reason for investors to self-custody their funds
2022.08.24 18:34
FDIC–FTX spat is another reason for investors to self-custody their funds
Searching for more evidence that self-custody of your cryptocurrency holdings beats a centralized manager? Look to the latest action by the Federal Deposit Insurance Corporation (FDIC).
The agency sent a letter to FTX Exchange this month — along with four other entities — that included a cease-and-desist order for “false and misleading statements.” Namely, it accused the exchange of falsely implying that user funds were FDIC-insured.
Tom Tirman is the CEO of IQ Protocol, an NFT renting solution that allows games and other platforms to wrap digital assets and lend them out to users looking to play and earn. Before crypto, Tim graduated from a top technological university in Eastern Europe with a law degree and continued his studies at the Stockholm School of Economics. In his free time, he also spearheads PARSIQ, a web3 data aggregator.
