GUSD is FDIC insured though. GUSD deposited in the 'Earn' program is not. Just like your bank account dollars are no longer FDIC insured once you buy bonds with them.
Even that is a somewhat dubious claim. They even stopped emphasizing that one their website so I suspect they realize that as well.
> Just like your bank account dollars are no longer FDIC insured once you buy bonds with them.
Then their ads and tweets shouldn't have been comparing it to a bank account. That's getting into unregistered security territory. Which again, not my opinion, but what the SEC is alleging.