I have found out just recently, this 250k insurance thing, basically nothing else, just PR stuff, illusion to the people, that their small money is insured. The FDIC has 1,35% of the total under 250k$ deposits in its fund, so basically it's nothing. How I see, before 2008 even this did not exist. (So they can pay 1 out of 75 under 250k deposits from the fund... :) :) :) how can they call it insurance...) I try to find out what about Europe and rest of the world, nothing for sure, but it looks even worse.
When I wrote it, I meant two things, 1., a coin goes zero, so doesnt matter where you store (how it is still a possible outcome in USDC case) 2., the market will crush because of exchange failures, so I lose value, again: doesnt matter where i store (how it happened in the FTX case).