I argue that having your money in a bank that is NOT FDIC-i…
I argue that having your money in a bank that is NOT FDIC-insured is safer than in an FDIC-insured bank.
The reason is that banks have no incentive to keep your money safe if they know the govt will guarantee the deposits.
Safer when not backed by govt.
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Long term this is true. In the short term world of crypto scams, I'm not sure this is true. (I'm speaking mostly of exchanges).