More insurers are offering coverage to cryptocurrency companies, hoping to profit from the industry’s rapid growth
After years on the sidelines, the insurance industry is increasingly embracing the digital assets sector.
The shift comes as the crypto market saw another wave of turmoil in recent weeks, a reminder of the highly volatile nature of an industry that still lacks significant oversight and investor protections.
Gemini said it offers $300 million in insurance for assets it holds on behalf of clients, covering theft, security breaches and fraudulent transfers, a spokeswoman said. The exchange, which worked with insurance broker New York-based Parametrix began tailoring its products to the crypto industry earlier this year, providing insurance to help crypto firms mitigate the financial risks during cloud outages. Demand for cloud insurance has grown among crypto exchanges after traders and investors filed several lawsuits seeking millions of dollars in damages related to outages.
Still, it is beneficial for a crypto firm to have a D&O insurance policy, as it is useful for attracting new directors and officers to the company, he said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
OCC's Hsu reiterates 'careful and cautious' approach after Terra collapseActing OCC Head Michael Hsu is doubling down on the bank regulator's careful approach to crypto, though he says he sees potential in crypto.
Baca lebih lajut »
Top 10 Cryptocurrencies With a Better Future Than Bitcoin | HackerNoonTo generate profit in crypto wallets at some point throughout the investment, crypto investors can search for alternative top 10 cryptocurrencies.
Baca lebih lajut »
Coinbase becomes the first crypto company to enter the Fortune 500 listCrypto exchange operator Coinbase has become the first crypto company to make the Fortune 500 cut — ranking at 437.
Baca lebih lajut »
Bitcoin, Ethereum Technical Analysis: BTC Climbs Above $30,000 as Balenciaga Greenlights Crypto Payments – Market Updates Bitcoin NewsBitcoin rallied above $30,000 to start the week, with bulls returning to crypto markets on Monday as Balenciaga accepts crypto payments.
Baca lebih lajut »
India's Central Bank Governor Warns About Crypto After Collapse of Terra LUNA, UST – Regulation Bitcoin NewsIndia's central bank has warned about investing in the crypto market following the collapse of terra (LUNA) and stablecoin terrausd (UST).
Baca lebih lajut »
First Mover Americas: TRON Outperforms BTC and Crypto Takes a Lead Role at DAVOSThere's plenty of crypto chatter at this year's wef in Davos. LyllahLedesma reports in this morning's First Mover Americas.
Baca lebih lajut »