Is USDT FDIC insured?

I understand that USDT, or Tether, is a cryptocurrency designed to be a stablecoin pegged to the value of the US dollar. However, I'm curious to know if USDT deposits are insured by the Federal Deposit Insurance Corporation (FDIC), similar to traditional bank deposits? Since cryptocurrencies are not directly regulated by traditional financial institutions, I'm wondering if there's any kind of safety net for investors who hold USDT. Can you clarify if USDT is FDIC insured, and if not, what other measures are in place to protect investors' funds?