Bittrex obtains $300M insurance for crypto in cold storage
The cover protects Bittrex against theft or collusion of its cold storage assets, and was arranged through Lloyds of London.
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.
Lloyd’s of London began underwriting insurance coverage for certain cryptocurrency assets last year when it introduced a plan for Kingdom Trust out of the U.S.
Insurance marketplace Lloyd’s of London has begun supporting cryptocurrency insurance for the first time, despite remaining quiet on the details.