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for US; coinbase and gemini are both FDIC on your fiat holdings, same as the banks.
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What about Kraken?
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Your fiat holdings at Kraken are also stored in banks. FDIC doesn't cover exchange insolvency, hacks, mismanagement, etc. It covers bank failure. Maybe you should be worried about bank failure these days but there's nobody to bail out crypto exchanges.
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Fair point. Coinbase and gemini have their customers crypto holding insured so take that as you like.
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Up to how much, what % of the total is insured? Under which circumstances does insurance pay out and how much does it pay out? What are the exceptions? Are the insurers independently solvent, reliable, actually going to pay? Without the details, "insurance" is meaningless.
200M for gemini. Coinbase 255M. Only one way to truly know if these insurances would hold up and if they're actually competent and truthful with the coverages. They have to keep accurate records for the fdic part per standard 250k per account. That's what I got from reading it.
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Isn't CB said to have $10b+ in assets under custody? So, they have 2.5% insured.. and it's not even clear what the insurance covers/pays out. Best insurance, as others have demonstrated is balance sheet (own pocket) and cap table (paying debt with equity).
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