Insurance – DIGIT INFO

Sam Altman-linked Meanwhile Advisors creates BTC private credit fund

The closed fund will offer investors a 5% yield in Bitcoin and lend funds in BTC to institutions.

Sam Bankman-Fried sues insurance company for defense costs as trial opens

SBF has directors and officers coverage through FTX Trading parent Paper Bird, but now that two companies have paid out $10 million, the third in line is balking, the suit claims.

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Evertas expands crypto insurance offerings to include mining and raises limits

Crypto insurance underwriter Evertas will increase coverage limits to $420 million per policy while adding additional mining coverage.

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Chinese State-Owned Company Launches 2 Crypto Funds in Hong Kong

One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland. Chinese Insurance Giant Enters Crypto Space Through Hong […]

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Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured […]

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FDIC plans to return $4B in Signature crypto deposits ‘by early next week’ — Martin Gruenberg

The Treasury Department’s Under Secretary for Domestic Finance Nellie Liang said at the same hearing she didn’t believe crypto “played a direct role” in the failure of the banks.

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FDIC warns CEX.IO and its reviewers to remove potentially false claims about insurance

The U.S. federal agency found a claim about deposit insurance in the fine print on the exchange’s website and on websites that reviewed it.

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Insurance Giant Tokio Marine to Offer Its Services in the Metaverse

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 employees as clerks in the virtual world. Tokio Marine […]

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GK8 increases insurance cap on digital assets to $1B

Institutional customers storing Bitcoin and other digital assets in GK8’s cold vault will receive up to $1 billion in insurance coverage.

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FDIC acting chair says no crypto firms or tokens are backed by agency

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.”

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