Sure, but the actual amount should be significantly more (a comment around was saying that any account secured with two signatures is ensured up to 500k, for example). And, it should be enough for the mid-month payroll of a 25-person team, which is the kind of company GP was talking about.

> 250k is not enough to make payroll

Plenty of firms will buy the uninsured deposit claims at a discount. Taking the haircut to make essential payments is worth avoiding disruption.

For 25 people making $200k, you get maybe one payroll run out of $250k.