Comment on Is This the End of Plastic? Visa's New Technology Could Replace Physical Cards
asdfasdfasdf@lemmy.world 7 months agoWhat? That’s not true. That’s what SPIC is for. Just like if a bank goes under and it’s FDIC insured, then you’re fine.
Robinhood has SIPC coverage. This means your assets are backed by the Securities Investor Protection Corporation. Through this, users are protected for up to $250,000 in cash and up to $500,000 in assets. This would come into play if Robinhood were to file for bankruptcy and couldn’t provide users with full asset values.
Texas_Hangover@lemm.ee 7 months ago
SPIC lmao. They might want to rethink that acronym.
TheOccasionalTachyon@lemm.ee 7 months ago
It’s actually SIPC - the Securities Investor Protection Corporation, so there aren’t any abbreviation problems.
Texas_Hangover@lemm.ee 7 months ago
Oops! Dyslexia lol. My bad.