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Ransom refusals hit attackers where it hurts: 40% revenue drop in 2022 — Chainalysis
20.1.2023
A number of industry pundits believe the U.S. Office of Foreign Assets Control’s threat to impose sanctions has victims thinking twice about paying up
US Regulators and the Fed Jointly Issue Crypto Warnings
5.1.2023
The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and soundness concerns with business models that...
Report: Morocco Central Bank Governor Says Crypto Draft Law Now ‘Ready’
3.1.2023
A Moroccan draft crypto law, which seeks to protect individuals from the risks associated with crypto trading, is ready and will soon be presented to stakeholders, Abdellatif Jouahiri, the governor of Bank Al-Maghrib (BAM), has said. Adoption of crypto by Moroccan residents is now inevitable hence...
Insurance Giant Tokio Marine to Offer Its Services in the Metaverse
31.12.2022
Tokio Marine, the biggest property/casualty insurance group in Japan, is taking its services and operations into the metaverse. The group, which has more than 39,000 employees all over the world, will allow its users to review and purchase insurance products on a metaverse platform, using real...
Report: Chinese Company Launches Digital Currency Insurance Product
13.12.2022
The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of personal digital currency wallets created in the Chinese...
GK8 increases insurance cap on digital assets to $1B
28.11.2022
Institutional customers storing Bitcoin and other digital assets in GK8’s cold vault will receive up to $1 billion in insurance coverage
FDIC acting chair says no crypto firms or tokens are backed by agency
15.11.2022
Martin Gruenberg answered affirmatively to Senator Bob Menendez that there were “no cryptocurrency firms backed by the FDIC” and its coverage did not include crypto "of any kind.”
Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take
24.10.2022
Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path...
Crypto adoption: How FDIC insurance could bring Bitcoin to the masses
20.10.2022
FDIC insurance is highly sought-after by crypto exchanges, lenders, and other service providers. Is it the key to mass adoption?
Smart contract-enabled insurance holds promise, but can it be scaled?
14.10.2022
Blockchains can help to insure the world’s uninsured, but daunting challenges remain: How does one explain crop insurance to indigent farmers?
Social tokens will be the engine of Web3 from fanbases to incentivization
9.10.2022
Social tokens are increasingly being used in online blockchain communities. They offer numerous benefits to users
‘Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels
2.10.2022
It’s been more than a decade since the financial crisis in 2007-2008 when Lehman Brothers, the fourth largest investment bank in the U.S., collapsed and filed bankruptcy. Close to 14 years later, Credit Suisse and Deutsche Bank, two of the world’s largest banks, are suffering from...
Digital Asset Exchange Platform Granted ‘Crypto Financial Services Provider License’ by Israeli Regulator
24.9.2022
An Israeli capital markets regulator, the Insurance and Savings Capital Market Authority, recently granted a “crypto financial services provider license” to Bits of Gold, the first such license for an active company in the country. This license allows Bits of Gold to offer crypto...
Crypto insurance a ‘sleeping giant’ with only 1% of investments covered
12.9.2022
With over $2 billion lost in decentralized finance this year, there exists a huge market opportunity for crypto insurance providers, according to an executive
Brazilian Brokerage Platform Rico to Offer Cryptocurrency Services Next Year
27.8.2022
Rico, a Brazilian brokerage platform part of XP Inc., has announced it plans to enter the cryptocurrency market next year. The division is expanding its operations and will also enter the banking sector, launching digital account services and a credit card. The platform follows in the steps...
FTX US among 5 companies to receive cease and desist letters from FDIC
19.8.2022
The government agency had previously stated that deposits at non-bank entities, including crypto firms, are not covered by FDIC insurance
China Bank Account Freeze Controversy: Authorities Reveal Latest Reimbursement Plan, Three Officials Now Under Investigation
31.7.2022
In a move seen as an attempt to pacify protesting bank clients, Chinese authorities in Henan province announced their latest repayment plan which sees customers with deposits ranging between $14,827 and $22,240 qualify for reimbursement. In addition, authorities said two unnamed officials from...
Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims
29.7.2022
Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims....
HARTi and Mitsui Sumitomo roll out NFT insurance coverage for claims
26.7.2022
The company said the move intends to cover all NFTs listed on the HARTi platform with no cost to the seller
Insurance Company Sued for Refusing to Cover $7.5 Million Bitcoin Ransom Payment
12.7.2022
A British jeweler has sued its insurance company for refusing to cover a bitcoin ransom payment of $7.5 million. The jeweler paid the hackers to prevent sensitive customer data from being published. Insurance Company Faces Lawsuit for Refusing to Cover Bitcoin Ransom Payment A luxury British...