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Is crypto exchange FTX insured by the government?

Aug. 19 - A U.S. bank regulator ordered crypto exchange FTX to halt 'false and misleading' claims it had made about whether funds at the company are insured by the government.

Is FTX 'false and misleading'?

WASHINGTON (Reuters) -A U.S. bank regulator ordered crypto exchange FTX on Friday to halt what it called "false and misleading" claims the exchange had made about whether funds at the company are insured by the government.

Who owns FTX US?

Owned by Sam Bankman-Fried, FTX US is easily one of the popular names in the cryptocurrency market. Crypto exchanges have been helping investors to exchange or convert their virtual currencies for years now.

Is FTX FDIC insured?

The Federal Deposit Insurance Corporation said a July tweet by Brett Harrison, head of FTX's U.S. operations, contained misleading claims that funds held at and stocks purchased through FTX were FDIC insured, and ordered the company to remove any misleading language from its social media accounts and websites.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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