> If you have more wealth than that yet have it all as cash in a single account, then, you're pretty much an ID10T.

SVB collapse has shown that the 250k limit is basically not relevant. Maybe if a big consumer bank like Chase failed then 250k would be the max paid out, but we haven't seen that.

And OP is referring to Synapse, where the FDIC could not help any of the americans who lost their savings because the underlying banks didn't fail. https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands...