decentrian on Nostr: Although i wouldn’t compare a shitcoin company like OnJuno to River, the question ...
Although i wouldn’t compare a shitcoin company like OnJuno to River, the question here is, who is the bank that provides the FDIC insurance and does the customer himself have an account with said bank or is it an FBO account ? I am just saying people need to be careful when reading the words “FDIC insured” because if you are mot dealing with the bank directly and you are using a fintech app (we could say that is what River is) then your money is not FDIC insured, it is River’s money that is FDIC insured.
Published at
2024-12-19 15:03:19Event JSON
{
"id": "7034dda549bb3e0a8d05b320c245ffc8deed4fcb509d95cfedc0102293f9fda1",
"pubkey": "44398a93cfda67c1a7e5b6e4a04c2bc4070a5153f39ba9e1edc1b623d33fc8a0",
"created_at": 1734620599,
"kind": 1,
"tags": [
[
"e",
"105670b232920c5b98d01b70c5d1862d9992d68a43cea343e4994c61e4394cf7",
"",
"root"
],
[
"p",
"846307688a09ec112967eb0544e78a9e88c48f50712c39ed491ff2b6fa019ae8"
]
],
"content": "Although i wouldn’t compare a shitcoin company like OnJuno to River, the question here is, who is the bank that provides the FDIC insurance and does the customer himself have an account with said bank or is it an FBO account ? I am just saying people need to be careful when reading the words “FDIC insured” because if you are mot dealing with the bank directly and you are using a fintech app (we could say that is what River is) then your money is not FDIC insured, it is River’s money that is FDIC insured.",
"sig": "18311d649df2d5fa6e37c71eb7ee5549f9ea85d46a3805f9e9c69d2979a0c2fa6bea244db1da73fe7149c7063ebd7b71992985d44f5b681766801ca35e843f78"
}
