FDIC Deposit Insurance and Crypto Companies
Over the past few months, some crypto companies have suspended withdrawals or ceased operations. In some scenarios, these companies have inferred that their products qualify for FDIC deposit insurance coverage leading customers to believe their money or investments are safe, when in fact, they are not. FDIC has released a Fact Sheet in order to clear up the common misconceptions around deposit insurance coverage. We encourage you to take a look and learn which products and risks are not covered by deposit insurance.
Who is FIBT?
First International Bank & Trust (FIBT) is a full-service, family-owned, independent community bank serving a wide range of communities across North Dakota, South Dakota, Minnesota, and Arizona.