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A comment on The Ethereum merge is done. Parent comment

Re:The Ethereum merge is done by km3r on Thursday September 15, 2022 @02:23PM (#32856270)
> Additionally, if an L2 goes down there are escape hatches that allow users to pull money out onto L1. The same cannot be said for Venmo or Square

Aren't venmo and cashapp FDIC insured?

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Re:The Ethereum merge is done by serverholic on Thursday September 15, 2022 @02:52PM (#32856767)
They are but I’m saying that if their servers go down it might be some time before you get your money back.

You can use an L2 escape hatch at any time. The L2 doesn’t need to be online or functioning.

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