this post was submitted on 22 Aug 2024
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Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse (arstechnica.com)
submitted 3 months ago by Xatolos@reddthat.com to c/technology@lemmy.world
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[–] idunnololz@lemmy.world 1 points 3 months ago

Actually 250k is the minimum for FDIC. Also I'm only basing my information on this single article but it says he stole 47 million and then the article goes on to say that FDIC absorbed the 47 million loss. Given this wording it sounds like every single dollar was covered.