Federal Deposit Insurance Corporation has issued cease-and-desist letters to Five Crypto companies, including FTX US, the U.S.-based arm of CEO Sam Bankman-Fried’s cryptocurrency exchange FTX. These letters were in response to them making “false representations” that their products were FDIC-insured. Cryptonews.com, Cryptosec.info, SmartAsset.com, and FDICCrypto.com also received cease and desist letters.