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A comment on FTX Tapped into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall. Parent comment

Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by eftychis on Thursday November 10, 2022 @04:30PM (#33553686)
Per institution. And there is a lot of consolidation. So I would be careful. It is really easy to be placing money into different banks, but essentially the same one.
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Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by achenatx on Thursday November 10, 2022 @04:41PM (#33553808)
there are a variety of caveats, on your side it is per entity.

If you are married it is 500K, if you have a trust it is like 1.25M. 250K for each beneficiary up to 5 (or something like that).

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Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set... by bluetwo on Thursday November 10, 2022 @09:36PM (#33556684)
Actually this is not correct either.

A married couple each have 250k coverage for their personal accounts, and each have 250k for shared account(s), so they could in theory have 1M coverage at a single institution.

Other qualified relationships work similarly.

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