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> There are people "in crypto" who believe the FDIC will make good any losses on their investments

Do you have a source for this? I'm heavily involved "in crypto", and have not seen any indications of beliefs like this.

Source: A couple of conversations with people in real life. If circumstances had been different these people would've been pushing Amway or similar.

Cryptocurrency is Amway for boys.

On r/gemini (named after the NYC-based exchange), it's a misconception that I see (and occasionally dispel) very frequently.