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Gemini Launches Insurance Company Resulting in the Highest Custody Insurance Coverage in the Crypto Market

Gemini Launches Insurance Company Resulting in the Highest Custody Insurance Coverage in the Crypto Market

Gemini exchange excitedly announced the launch of its own cryptocurrency insurance company which turned out to be regarded as the most crypto custody with the widest coverage at the moment. Named Nakamoto, Ltd.

Traditional Financial Giant Lloyd's of London Introduces Cryptocurrency Insurance for Hot Wallets

Traditional Financial Giant Lloyd's of London Introduces Cryptocurrency Insurance for Hot Wallets

Insurance giant Lloyd’s has launched a new insurance product to protect digital asset holders against the rising threat of cybercrime in the crypto market.

Coincover Sets Eyes on Crypto-based Insurance Service

Coincover Sets Eyes on Crypto-based Insurance Service

Coincover, a Cardiff based start-up in the United Kingdom, has gone a notch higher by introducing a crypto-based insurance service. The primary objective of this move is deterring asset loss and theft in the cryptocurrency space.

EToro Boosts Insurance Cover-Up to £1 Million, but Crypto Investments Excluded

EToro Boosts Insurance Cover-Up to £1 Million, but Crypto Investments Excluded

eToro has unveiled a new insurance plan that will cover up to 1 million euro for customers, but cryptoassets are excluded from the policy.

Oxfam's Blockchain-Based Agricultural Insurance Firms in Sri Lanka Pay Farmers with Crypto

Oxfam's Blockchain-Based Agricultural Insurance Firms in Sri Lanka Pay Farmers with Crypto

Insurance in the agricultural sector is becoming digitized through blockchain based solutions in Sri Lanka as Oxfam pays farmers in cryptocurrencies

Hackers Demand $1 Million in Bitcoin Ransom After Hacking Computer Systems of Insurance Firm

Hackers Demand $1 Million in Bitcoin Ransom After Hacking Computer Systems of Insurance Firm

Israeli’s largest insurance company fell victim to hackers this week and must pay huge amounts of funds in cryptocurrency to regain access to its data.

Tyler Winklevoss Predicts $500K BTC price as MassMutual Insurance Giant Buys up $100 million in Bitcoin

Tyler Winklevoss Predicts $500K BTC price as MassMutual Insurance Giant Buys up $100 million in Bitcoin

MassMutual Insurance buys up $100 million in BTC for its portfolio, and Bitcoin billionaire Tyler Winklevoss appears to be gaining confidence in his $500,000 per BTC prediction.

US Officials Consider Expanding Deposit Insurance Coverage

US Officials Consider Expanding Deposit Insurance Coverage

US officials are discussing the possibility of expanding deposit insurance beyond the current cap of $250,000 to cover all bank deposits, according to Bloomberg. However, sources have said that such a move is not necessary at the moment, as recent steps taken by financial regulators are likely to be sufficient. This potential strategy is being considered in case the current situation worsens.

Fitch Warns El Salvador’s Bitcoin Adoption Will Hurt Local Insurers’ Credit Ratings

Fitch Warns El Salvador’s Bitcoin Adoption Will Hurt Local Insurers’ Credit Ratings

Fitch Ratings has warned El Salvador that its bitcoin adoption plan poses serious risks to local insurance companies.

Lemonade to Offer Blockchain-Powered Climate Insurance for Farmers in Emerging Markets

Lemonade to Offer Blockchain-Powered Climate Insurance for Farmers in Emerging Markets

American insurance company Lemonade has revealed the formation of Lemonade Crypto Climate Coalition which will offer blockchain-enabled climate insurance to the most vulnerable farmers across the globe.

HKMA Broadens Mortgage Insurance Programme Eligibility Criteria

HKMA Broadens Mortgage Insurance Programme Eligibility Criteria

The Hong Kong Monetary Authority has expanded the eligibility criteria of the Mortgage Insurance Programme.

BitMEX to Transfer Bitcoin Insurance Fund to New Addresses

BitMEX to Transfer Bitcoin Insurance Fund to New Addresses

BitMEX announces the transfer of its Bitcoin Insurance Fund to new addresses, ensuring transparency and security for its users.

Oracle Unveils Cloud Service to Streamline Data Exchange for Health Insurers

Oracle Unveils Cloud Service to Streamline Data Exchange for Health Insurers

Oracle introduces the Health Insurance Data Exchange Cloud Service to help insurers simplify data exchange and reduce IT costs.

Ensuro Leverages USDC to Enhance Insurance Accessibility for Underserved Populations

Ensuro Leverages USDC to Enhance Insurance Accessibility for Underserved Populations

Ensuro, using USDC, is revolutionizing insurance by making it more inclusive and capital efficient, especially for underserved populations.

FTC Settles with Voyager Digital Over Misleading FDIC Claims, Former CEO Charged

FTC Settles with Voyager Digital Over Misleading FDIC Claims, Former CEO Charged

The FTC settles with Voyager Digital, barring it from handling consumer assets post allegations of misleading FDIC insurance claims. The settlement highlights regulatory efforts to ensure transparency in the crypto industry amid a broader crackdown on deceptive practices.

Circle Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off

Circle Unable to Withdraw $3.3 Billion from SVB, Causing USDC Sell-Off

Circle, the issuer of USD Coin (USDC), was unable to withdraw $3.3 billion of its $40 billion reserves from Silicon Valley Bank (SVB), leading to a sell-off that caused the stablecoin's value to drop below its $1 peg. Circle initiated a wire transfer to remove the funds from SVB as the FDIC-insured bank was about to shut operations, but the transfer was not wholly processed, leaving $3.3 billion of USDC reserves with SVB. Dante Disparte, Circle's chief strategy officer, warned that SVB's failure could have broader implications for the US economy.

Abacus Life Partners With Blockcerts to Introduce Blockchain-Powered Insurance

Abacus Life Partners With Blockcerts to Introduce Blockchain-Powered Insurance

Abacus Life Settlements, a buyer of life insurance policies in the US, has teamed up with BlockCerts to introduce blockchain-enabled insurance and longevity-related assets.

SBI Holdings to Launch Investment Fund for Emerging Companies like Web3, AI, and Metaverse Startups

SBI Holdings to Launch Investment Fund for Emerging Companies like Web3, AI, and Metaverse Startups

SBI Holdings plans to invest 100 billion yen in startups focusing on Web3, AI, and metaverse, with financial institutions supporting Japan's goal to nurture its startup ecosystem and enhance its Asian startup hub position.

Zetrix Announces Launch of NFT-based Insurance Product Covinsure

Zetrix Announces Launch of NFT-based Insurance Product Covinsure

Public blockchain network Zetrix announced the launch of Covinsure, an NFT-based insurance product.

Mid-Size Banks Ask for Deposit Insurance Extension

Mid-Size Banks Ask for Deposit Insurance Extension

The Mid-Size Bank Coalition of America (MBCA) has requested that the US Federal Deposit Insurance Corporation (FDIC) extend insurance on all deposits for the next two years, which would immediately halt the outflow of deposits from smaller banks and stabilize the banking industry, according to a Bloomberg report. The MBCA proposed that the banks themselves fund the insurance program by raising the deposit-insurance assessment on lenders who opt to participate in the increased coverage, and the failure to provide this could result in up to 300 banks going under.

dYdX Utilizes $9M Insurance Fund Following Alleged Targeted Attack on YFI

dYdX Utilizes $9M Insurance Fund Following Alleged Targeted Attack on YFI

dYdX deployed $9 million from v3 insurance fund to cover YFI market liquidations, suspecting targeted attack and market manipulation. No user funds affected, insurance fund remains at $13.5 million.

FDIC Mandates New Signage for Digital Platforms Starting 2025

FDIC Mandates New Signage for Digital Platforms Starting 2025

The FDIC has updated its signage requirements, mandating digital display of a new black and navy blue sign on websites, apps, and ATMs from 2025 to align with modern banking practices.

How Blockchain Technology is Helping to Fight the Novel COVID-19 Pandemic

How Blockchain Technology is Helping to Fight the Novel COVID-19 Pandemic

Coronavirus disease has changed our lives in unprecedented ways. With the imminent lockdown caused by the virus, several reorganizations had to be implemented to keep our lives going. This brief analysis highlights some of the key ways that the application of Blockchain Technology is helping in the fight against the COVID-19 disease and pandemic.

How DeFi Protocol Insurance Boosts Confidence Among Investors?

How DeFi Protocol Insurance Boosts Confidence Among Investors?

The role of DeFi protocol insurance has become more important that DeFi users cannot overlook.

FDIC Says Deposits and Cryptos at Non-Bank Entities Are Uninsured

FDIC Says Deposits and Cryptos at Non-Bank Entities Are Uninsured

The FDIC said that the public should be aware that deposit insurance does not cover non-bank entities and non-deposit products, including speculative acts such as stocks and cryptocurrencies.

Hong Kong’s OneDegree to Provide Digital Asset Protection Insurance with Munich Re

Hong Kong’s OneDegree to Provide Digital Asset Protection Insurance with Munich Re

OneDegree is developing more technology to provide protection to participants in the digital assets market.

DeFi Insurance Claims Reach $34.4 Million

DeFi Insurance Claims Reach $34.4 Million

DeFi insurance firms paid out $34.4 million in claims in 2022, including $22.5 million for the collapse of Terra Luna and $4.7 million for FTX. DeFi insurance now covers eight major categories, but more work is needed to scale.

Dr. Ben Goertzel—Creating an AI Marketplace for Paypal’s 286 Million Users

Dr. Ben Goertzel—Creating an AI Marketplace for Paypal’s 286 Million Users

In this second part, we discuss SingularityNET recent projects and collaborations with Toda Network, PICC Services and PayPal.

Allianz Advances with Blockchain-Based Token System

Allianz Advances with Blockchain-Based Token System

As the growing adoption of blockchain technology approaches the mainstream enterprises, the insurance giant, Allianz has also entered the blockchain sector.

UAE Gets First Blockchain-Powered Solution to Acceletrate Motor Insurance Claims

UAE Gets First Blockchain-Powered Solution to Acceletrate Motor Insurance Claims

XA Group has rolled out the first end-to-end and blockchain-based digital solution dubbed Addenda to tackle the decades-old industry challenge of reconciling motor recovery claims.

Crypto Firms Report Funds Tied Up with Shuttered Signature Bank

Crypto Firms Report Funds Tied Up with Shuttered Signature Bank

Crypto firms including Coinbase, Paxos, and Celsius have reported funds tied up with Signature Bank, which was shut down by New York regulators due to concerns about systemic risk. While some firms expect to recover their funds in full, others have disclosed only that they had exposure to the bank. Other firms in the crypto industry have reassured customers that they had no exposure to Signature Bank.

Nasdaq-Listed Metromile Backs Bitcoin for its Insurance Products

Nasdaq-Listed Metromile Backs Bitcoin for its Insurance Products

Auto insurance company Metromile is thinking of investing in Bitcoin.

Hong Kong Sets 50% Insurance Mandate for Crypto Exchanges

Hong Kong Sets 50% Insurance Mandate for Crypto Exchanges

Hong Kong's SFC mandates 50% insurance coverage for licensed crypto exchanges, with OSL and HashKey Exchange leading compliance by securing extensive insurance policies for customer asset protection.

Wyoming State Says Cryptocurrency Represents Property, Allows Insurers to Include Digital Assets in Investment Portfolios

Wyoming State Says Cryptocurrency Represents Property, Allows Insurers to Include Digital Assets in Investment Portfolios

The US. state of Wyoming has enacted new legislation to allow insurance firms to invest in digital assets like cryptocurrencies. The new law intends to come into effect on 1st July.

Blockchain-Powered App to Seamlessly Assist Patients Request Medical Care and Insurance Cover

Blockchain-Powered App to Seamlessly Assist Patients Request Medical Care and Insurance Cover

Seoul Medical Center is set to launch a blockchain-enabled medical information mobile app dubbed Seoul Care this month. This app will help patients plan medical treatments, look up prescription details, and check test results using their smartphones.

Avo Receives First Virtual General Insurer License in Hong Kong

Avo Receives First Virtual General Insurer License in Hong Kong

Hong Kong’s Insurance Authority (IA) announced on Tuesday that it has granted the first authorization for virtual general insurance under Fast Track. The license was granted to Avo, a local insurtech company providing products like health and travel insurance.

Insurance Firms in China and Hong Kong Count on Blockchain to Fast Track Coronavirus Claims Amid Outbreak

Insurance Firms in China and Hong Kong Count on Blockchain to Fast Track Coronavirus Claims Amid Outbreak

Xiang Hu Bao, an online mutual aid platform, a subsidiary of Ant Financial, is a “collective claims-sharing mechanism built on blockchain that offers basic health plans to its 104 million participants.” Most of its users are Chinese citizens from lower-tier cities, and in rural areas. By utilizing blockchain technology, settlements have been made more efficient, and fraudulent claims have been reduced.

Ledger Will Provide its First Crypto Lending Partner YouHodler with Crypto Insurance

Ledger Will Provide its First Crypto Lending Partner YouHodler with Crypto Insurance

FinTech platform and crypto-backed loan service provider YouHodler has selected digital asset wallet provider Ledger Vault to be implemented across its platform, to offer its users an added layer of security and protection.

Macro Investor Mike Novogratz Says MassMutual's Bitcoin Investment Could Be The Most Important One of 2020

Macro Investor Mike Novogratz Says MassMutual's Bitcoin Investment Could Be The Most Important One of 2020

Mike Novogratz recognizes MassMutual insurance company’s move to purchase $100 million in Bitcoin as the most important cryptocurrency news of the year 2020.

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