How to check a crypto platform's insurance claim

Capture what is actually promised

Practical checklist · not an audit of another provider

Record the exact wording, date and product to which the insurance statement applies. Note whether the platform says customer deposits are insured, that it holds a policy for its own business, or that a partner has coverage. These statements are not interchangeable. The FTC's Celsius allegations illustrate why a large headline coverage amount alone is not enough to interpret protection.

Find the scope and exclusions

Practical checklist · not an audit of another provider

Look for the insurer, policyholder, covered events, limits and who can make a claim. Ask whether the statement covers theft, insolvency, a particular custodian or something else. If the documents are unavailable, label the coverage unverified instead of inventing an answer. A logo or a salesperson's assurance is a claim to check, not a substitute for the underlying terms.

Keep financial safety checks separate

Practical checklist · not an audit of another provider

Insurance wording cannot establish solvency, guaranteed returns or immediate withdrawal rights. Review each promise independently and keep copies of relevant communications. If you suspect deception, the FTC's consumer guidance provides reporting and scam-recognition steps. Do not send another deposit to satisfy an unexplained insurance, tax or release charge imposed by the same contact who is preventing access to funds.

A coverage comparison you can reuse

Practical checklist · not an audit of another provider

Create one row for each claimed protection. Fill in: policyholder; insurer; covered product; covered event; exclusions; aggregate limit; per-customer limit, if stated; claimant; document date. Next to 'customer deposit insurance', ask whether the cited document actually uses that meaning or instead covers the company's operational losses. Keep the original terms alongside the row. If the operator will not identify the policy or coverage perimeter, record the claim as unverified; do not change that label because a salesperson repeats the headline amount.

Sources, dates and limits

Checked 23 October 2026. The FTC case timeline establishes entry of Goldstein's stipulated order, alongside the July 2026 release and May 2025 criminal sentencing record. A settlement order is distinct from a trial finding or an admission covering every allegation. No creditor recovery percentage is calculated.