The cover protects Bittrex against theft or collusion of its cold storage assets, and was arranged through Lloyds of London.
Lloyds of London has become a major player in the crypto insurance sector, facilitating a $255 million policy for Coinbase, a $100 million policy for crypto custodian BitGo and more.
Coinbase apparently considering introducing a “captive insurance company,” which would be launched through a partnership with the Aon insurance brokerage firm.
Citing the high risk and cost of insuring cryptocurrency businesses, South African insurer Old Mutual has called it quits on the industry.
Anchorage is giving its customers something many cryptocurrency holders and traders repeatedly request.
Looking to make the insurance subrogation process less time intensive and full of paperwork, State Farm and the USAA have turned to blockchain technology.
Coinbase recently explained their extensive cryptocurrency insurance, giving the world a better understanding of how a professional outfit protects its customers.
Branding China Group is a trading and asset management firm that is known for its technology investments, but has been diversifying into the blockchain sector recently.
Crypto services firm BitGo has been accused of using ‘ambiguous language’ when describing its new insurance coverage.
Custodial assets held by BitGo are covered by the Lloyd’s insurance market up to the value of $100 million, with the firm itself covered by a variety of policy types to its customers.