>U.S. dollars in your Gemini Account are eligible for FDIC insurance, subject to applicable limitations. Please see the FDIC Insurance section of our User Agreement for more information.
Thats for the cash in your account, not the cash value if you hold coins and geminis wallet gets hacked. Coinbase has the same level of insurance. Its the same ($200k limit it think?) as cash accounts in traditional banks.
https://support.gemini.com/hc/en-us/articles/205823016-Are-m...
>U.S. dollars in your Gemini Account are eligible for FDIC insurance, subject to applicable limitations. Please see the FDIC Insurance section of our User Agreement for more information.