fdic insurance
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.
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.
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
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.
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
Insurance in the agricultural sector is becoming digitized through blockchain based solutions in Sri Lanka as Oxfam pays farmers in cryptocurrencies
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.
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
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.
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.
New Jersey State Considering New Bill to Set New Requirements for Cryptocurrency Businesses
The New Jersey state legislature received a new bill, the Digital Asset and Blockchain Technology Act by Assemblywoman Yvonne Lopez. This new bill would require cryptocurrency and virtual currency to obtain a license to operate, allowing for more consumer-friendly protections.
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
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
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.