Crypto Tumult Highlights Lack of Investor Protections

Federal regulators have warned for years that crypto trading platforms and dealers of crypto assets don't offer customary protections for investors and savers that apply when banks or brokerage firms fail. Investors are learning that there is no government safety net to protect them when their funds seemingly disappear with a trading and lending platform that has failed, federal regulators have said in the past. Bitcoin and other crypto assets aren't protected by the same protections that apply in banks and brokerage firms, they say. The U.S. Treasury Department says it's investigating the collapse of a trading platform that failed to provide a safety net for investors, savers, investors and investors. In the past, the failure of the trading platform has led to losses of $1.2 billion to $1 billion. Source