X @BSCN

🚨FDIC CHAIR: STABLECOINS WILL NOT RECEIVE DEPOSIT INSURANCESpeaking today at the American Bankers Association summit, FDIC Chair Travis Hill confirmed stablecoins are ineligible for FDIC coverage, including "pass-through" arrangements.Your $USDC and $USDT are not insuredThe ruling follows the GENIUS Act, which established the US stablecoin framework.Under the law, issuers must hold 1:1 reserves but if an issuer fails, you're an unsecured creditor, not a protected depositor. ...