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Crypto Insurer Evertas Buys Bitcoin Mining Cover Specialist Bitsure
18.7.2023
Evertas has snagged the authority to offer mining policy limits of up to $200 million per location
The High Rate Environment — Bank of America Faces Paper Losses Exceeding $100 Billion
4.7.2023
Following the aftermath of the United States’ three major bank collapses, several market observers argue that the banking crisis in the country persists. Bank of America has recently garnered significant attention, with the Federal Deposit Insurance Corporation (FDIC) reporting that...
Startup Arbol Debuts AI and Blockchain-Driven Climate Insurance Platform – How Does it Work?
21.6.2023
US-based startup Arbol has revealed a parametric insurance platform powered by artificial intelligence (AI) and blockchain, developed in collaboration with The Institutes RiskStream Collaborative.
"dRe is live and in production," said a press release on Tuesday.
It's described as the first...
Startup Arbol Unveils AI and Blockchain-Powered Climate Insurance Platform
20.6.2023
The market for climate insurance is estimated to triple in the next decade
US FDIC Says OKCoin Made False Statements About Deposit Insurance and Demands Corrections
16.6.2023
The US Federal Deposit Insurance Corporation sent a letter to OKCoin USA, Inc., demanding the cryptocurrency exchange take action to address false and misleading statements about its deposit insurance.
The FDIC sent three letters to OKCoin USA, Inc., Bodega Importadora de Pallets and Money Avenue...
OKCoin Accused by FDIC of Making False Claims About Customer Protections
16.6.2023
OKCoin must scrub misleading statements that suggest its customers’ accounts are protected by the U.S. Federal Deposit Insurance Corp. (FDIC), the U.S. banking regulator ordered late Thursday, complaining the company is making false claims
Bitcoin Life Insurance Startup Raises $19M in Seed Rounds Led by Sam Altman and Gradient Ventures
7.6.2023
Meanwhile, a life insurance company that uses bitcoin, has accumulated $19 million through two seed funding rounds. The first round was led by Openai CEO Sam Altman and former Stripe executive Lachy Groom, while Google’s Gradient Ventures took charge of the second round. Crypto Startup...
Bitcoin-Denominated Life Insurance Provider Sets Up Shop With $19M Funding
6.6.2023
Meanwhile's target audience is U.S. citizens with large BTC holdings, an audience from which it has "seen a lot of early demand."
Crypto Insurer Evertas’ Coverage Limit Increased to $420M: Reuters
5.6.2023
London-based Arch Insurance International, a syndicate member of Lloyd's of London, has authorized Evertas to increase its coverage limit for a single policy for crypto custodians and exchanges
Evertas expands crypto insurance offerings to include mining and raises limits
2.6.2023
Crypto insurance underwriter Evertas will increase coverage limits to $420 million per policy while adding additional mining coverage
Turns out, it’s pretty difficult to insure crypto users and platforms
29.5.2023
A crypto insurance provider will typically assess at least 2,000 variables across 20 risk areas before they even consider insuring a platform, according to an insurance executive
BlockFi used customer money to buy $30M insurance, creditors claim
16.5.2023
BlockFi said last Friday that it might not generate value for creditors by selling its cryptocurrency lending platform
AI is coming for your job: What industries will be affected?
8.5.2023
According to Accenture, 40% of working hours across different industries could be lost to AI as tools like ChatGPT continue to improve
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
7.5.2023
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin....
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators
1.5.2023
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable...
First Republic’s crisis is not an isolated incident - suggests JPMorgan exec
30.4.2023
The CIO of JPMorgan Asset Management said it’d be “naive to say that this is just limited to First Republic.”
FDIC alleges Cross River engaged in 'unsafe' lending practices
30.4.2023
Cross River is yet to admit nor deny the allegations that it “engaged in the unsafe or unsound banking practices” related to its lending activity in 2021
Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures
29.4.2023
On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC)...
First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles
29.4.2023
According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding...
US Government in Talks to Rescue Struggling First Republic Bank, Sources Say
28.4.2023
Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector...