If there's a run on the bank, is your money still safe?
(KTLA) – Remember the scene in "It's a
It's the biggest bank failure since the 2008 financial crisis, putting nearly
While this kind of thing doesn't happen very often, the demise of
The good news is that, in most cases, the
Deposit insurance is one big reason why banks remain relatively safe places to park money, whereas cryptocurrency exchanges generally come with no such safeguards.
In the case of crypto collapses — such as those seen in recent months — account holders can be left with nothing unless the exchange steps up with compensation. (The
If you didn't bank with
Noteworthy exceptions include
Customers of
A major bank failed. Here’s why it’s not 2008 again
California governor working with White House, Treasury to stabilize Silicon Valley Bank
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