FROM Proton News: An ex-employee at Metallicus has come forward: News broke here a few days ago that there is an ongoing SEC complaint against Marshall/Metallicus/Metalchain/Protonchain. An ex-employee has verified this and reveiled that Metal Pay has falsely claimed to extend FDIC insurance to its users' deposits and balances. Our source said "FDIC contacted Marshall" less than 2 years ago "and asked that this be removed" from the company websites. Marshall and company continued to illegally use this FDIC unsurance claim this year.
As part of our research, Evolve Bank has verified this story that users' deposits and balances are NOT FDIC insured.