[pbmango]

This conversation is especially interesting given the FDIC is probably the most decentralized component of traditional financial infrastructure.

It has cost taxpayers effectively nothing and rests on mutual insurance across the system. Yes there is a line of credit to the Treasury but the overall security it has provided for 70 years is probably hard to measure compared to the Fed buying/selling activity. I know there are probably teams working on this for crypto already (without the law mandate).