Tag: insurance

In a time of monetary inflation, the only place to pool funds for insurance companies is bitcoin.Everyone Loves Insurance, Right?Healthcare and insurance. The words just evoke anguish, discomfort and general anxiety, don’t they? I mean, I sure as hell don’t enjoy hearing those words uttered, let alone ponder the costs that are forked over every month from my salary. Yet they...

Your bags are gone. How do you alleviate that concern? With insurance. Unfortunately, DeFi users don't have much choice when protecting their assets, and only an estimated $2 billion of DeFi's $100 billion TVL is insured. Needless to say, crypto and DeFi are still in the exploratory phase in finding an optimal insurance solution. Exploits have become almost inevitable and hidden in plain...

Decentralized finance (DeFi) platforms Uma and Opium Network have announced the launch of a new—quite unusual—crypto derivative product that would allow individual users to act as insurers for SpaceX flights. “Using Uma’s Optimistic Oracle, Opium Protocol launches decentralized...

Swiss insurance giant AXA is offering a bitcoin-based payment option to meet growing demands for this alternative from its customers.Bitcoin adoption as a method payment is rising globally and the latest institution to embrace this development is Switzerland-based insurance giant, AXA.The Swiss-based insurance company...

NYDIG has announced a $100 million raise of growth capital with strategic partnerships and hires for a bitcoin-powered insurance strategy.In an April 8, 2021 release,...

Given current monetary policy, the insurance industry and bitcoin are a match made in heaven. Here’s why.Early on the morning of March 10, NYDIG, a financial services firm dedicated to Bitcoin and built specifically for institutional clientele,...

Thanks to the innovation of blockchain technology, cryptocurrencies and many of the applications built around them benefit from incredible security that most traditional financial products struggle to match. This has led to the development of a huge range of decentralized finance (DeFi) products, which allow individuals and businesses to shop, invest,...

DeFi insurance service Armor Finance has been accused of backing out of a $1.6 million insurance claim, according to one of its pseudonymous clients. User Claims He Was Defrauded Kferretcrypto, who says he was defrauded, attempted to settle an insurance claim concerning a Nexus Mutual investment. The user...

Crypto banking and financial services platform Celsius Network (CEL) plans to self-insure its users’ funds against unforeseeable losses, its co-founder and CEO Alex Mashinsky announced on Twitter today. “You asked for it and we listened....

Nexus Mutual is now offering centralized exchange cover. The protocol will compensate users who lose 10% of their funds or experience prolonged withdrawal halts. Nexus Mutual Expands Cover to CeFi Nexus Mutual,...

A way to be covered in the event of an exchange hack.

Defi insurer Cover Protocol, designed to reduce smart contract failure risks, was exploited by a bug in its smart contract on Monday morning.

A hacker has exploited a bug in the incentives smart contract of Cover Protocol. This has allowed the hacker to get away with 11,761 COVER tokens, worth $3.62 million at press time. Cover Hack Kills Token Price Cover...

China Construction Bank, one of the largest banks in China has started a new use case for the country's much talked about digital yuan by issuing the first insurance policy completely paid in the national digital currency. The digital yuan settled insurance policy was launched in association with ZhongAn Online P&C Insurance. Local media reports The post Crypto China: Construction Bank in China...

Tidal will use the Polkadot blockchain to allow users to insure a set of DeFi applications against smart-contract failure or breaches.