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Crypto: What You Should Know Right Now

It all depends on your individual circumstances. Contact an attorney to find out what legal recourse you have.  However, you should be aware that bankruptcy processes typically take a long time. For people who have dollars or other fiat currency held by exchanges, those funds are not covered by deposit insurance as funds are when held at a traditional financial institution, like a bank.

Learn more from a recent the FDIC fact sheet on its insurance and crypto companies.

If your crypto exchange goes out of business, no government agency can restore your losses. Your outcome may depend on the bankruptcy process, which may or may not happen in a U.S. court under American bankruptcy rules.