![]() ![]() ![]() You agree and understand that you are solely responsible (and you will not hold us responsible) for managing and maintaining the security of your User Account login credentials and any other required forms of authentication, including your API keys. Our policy does not cover any losses resulting from any unauthorized access to your User Account. Our policy insures against the theft of Digital Assets from our Hot Wallet that results from a security breach or hack, a fraudulent transfer, or employee theft. This is a separate commercial policy that Gemini has, which is not tied to any government institution.Īccording to their user agreement, here's how this coverage works: Gemini offers Digital Asset Insurance on crypto assets held within the platform. What Coverage Does Gemini Provide For My Crypto? Since digital assets are not federally regulated and are not considered securities or cash, they are not covered by SIPC insurance. It covers you in the event that these assets disappear. It is important to understand, however, that the SIPC does not insure you against any losses experienced from investing in stocks/bonds. This covers you against the loss of securities such as stocks and bonds as well as cash held within the account for the purpose of investing. SIPC insurance covers United States investors in the event that their brokerage firm fails. This would only apply for United States citizens. However, US dollar deposits held outside of the United States are not eligible for this insurance. So, in a nutshell, US dollar deposits within Gemini are eligible for up to $250,000 of "pass through" FDIC insurance. dollar deposits in your Fiat Account held in one or more Omnibus Accounts at one or more Banks located in the United States are held with the intention that they be eligible for Federal Deposit Insurance Corporation (“FDIC”) “pass-through” deposit insurance, subject to the Standard Maximum Deposit Insurance Amount per FDIC regulations (currently $250,000 per eligible Gemini Customer) and other applicable limitations. Here's what Gemini says in their user agreement regarding "pass through" FDIC insurance for US dollar deposits: Since digital assets are not federally regulated and are not considered securities or cash, they are not eligible for FDIC insurance. Get 1 Free Fractional Share Worth $5 To $200Īccording to the Gemini User Agreement, US dollars held within your Gemini account are eligible for FDIC insurance, however it is subject to a few limitations.įirst of all, any digital assets or cryptocurrencies held within your account are not FDIC insured. ![]()
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