More than 1.5 Million Customers Affected: A Brazilian Bank Just Went Bankrupt

In Brazil, a bank (Master) with over 1.5 million customers has just gone bankrupt due to corruption schemes, money laundering, and other crimes. The most downloaded app in the country right now is the FGC, a type of insurance fund that reimburses account holders up to a limit of about $50,000 if they had deposits or investments above that amount at the bank. In other words, if you had $200,000, you’d receive only $50,000 from Brazil’s Central Bank and absorb the rest of the loss. This is exactly why Bitcoin matters so much—it’s immune to situations like this.

Source: https://www.reuters.com/business/brazils-central-bank-orders-extrajudicial-liquidation-banco-master-2025-11-18/