How do I know Parallax is not a scam? – Parallax Labs

We're FDIC insured! 🏦

What this means: Each USD bank account on Parallax is FDIC-insured up to $250,000. FDIC insurance is a type of government-provided insurance that protects depositors in case their bank fails. This means that if a bank fails and a depositor has less than $250,000 in their account, they will be fully reimbursed by the FDIC. It was created by the Federal Deposit Insurance Corporation (FDIC), a United States government agency, in response to the Great Depression of the 1930s. FDIC insurance does not cover anything under than USD in your USD bank account.

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