How would you go about cashing out very large sums of Bitcoin, or other cryptocurrency?
If I had $130,000,000 worth of assets seating in my wallet, I would not cash out all of it to fiat to avoid attracting unnecessary attention to myself. I would leave most of it in crypto and only convert 1% of it to fiat.
Coinbase and Gemini your only convenient options? Will they be able to cash out such a large sum, and send the proceeds to your financial institutions without issues?
I think there's a limit to the amount of money your account can receive from exchange but this may vary in different countries. In Nigeria, the maximum amount you can receive in a day on Binance exchange is N18 Million and you must be an active trader.
FDIC insurance only covers up to 250k per bank account. So, you would need more than four hundred accounts in order to cover all 100 million dollars. Is there a better way? Can you just send all 100 million directly to your Vanguard brokerage account? How do the ultra-wealthy do it?
You've said it yourself that according to FDIC insurance, an account can only hold $250k, so what do you think will happen when someone who's account balance is $3k, sudden receives $250k in four hundred different accounts? Your account would be frozen and you would be called upon by the authorites to explain the source of your wealth.