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just some breaking news here off the top fdic issuing cease and desist letters to five crypto companies jared lickery is watching the action in the crypto stocks and it says it all right there on the heat map a lot of red ill tell you what we just got this breaking news to be fair now all of these crypto assets were down considerably before the news let me just uh pull up a chart of bitcoin keep in mind this is utc time but here is the entire week down 12 this is one of the worst weeks in quite a while now heres when the news came out you can see just a little small downdraft there but want to get a statement from the fdic quote based on evidence collected by the fdic each of these companies and there are five of them made false representations including on their websites and social media accounts stating or suggesting that certain crypto related products are fdic insured and that stocks held in brokerage accounts are fdic insured these companies include ftx cryptonews.com crypto cr