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A Bermudian-based reinsurer has played a pivotal role in helping a revolutionary new crypto wallet insurance product get to market. Relm Insurance Ltd has provided the necessary reinsurance backing for Crypto Shield, the first insurance product for crypto currency available to retail wallet holders. Crypto Shield covers the theft of crypto currency while in the custody of a qualified custodian. The launch of the product was announced by Boost Insurance alongside go-to-market partner, Breach Insurance, an insurtech that provides insurance technology and regulated insurance products for the crypto currency market. The companies said Crypto Shield was the first product to…
The Swiss city of Lugano partners with stablecoin Tether to become the crypto capital. Tether announced the new partnership on Twitter. Tether, the largest stablecoin in the cryptocurrency market, has announced that it has released a special “Plan B” for Switzerland’s ninth largest city. Sharing the new partnership on Twitter, Tether plans to transform Lugano into the “crypto capital of Europe”. “#bitcoin and stablecoins are revolutionizing the financial sector. #tether and The City of Lugano🇨🇭 @luganomycity are teaming up to transform Lugano into the European #bitcoin capital.Every city needs a plan. Join Lugano’s Plan ₿” According to a statement…
Ricardo Salinas Pliego, the third richest Mexican billionaire, has said the current dip in Bitcoin prices is for buying more BTC and not selling. According to the billionaire, when prices fall as has happened with Bitcoin’s recent dip below $40,000, it is time to load up on more of the cryptocurrency. Investors, he noted in a tweet, will be better off hodling than selling. Salinas, the founder of Mexico’s second-largest TV broadcaster TV Azteca and business conglomerate Grupo Salinas noted: “You have to buy bitcoin (keep buying when the price is low), then just hold your BTC, forget about selling ……
The case marks a rare achievement for law enforcement in returning cryptocurrency funds to victims who have been duped by an international scam. More than £4m has been returned to the victims of a global cryptocurrency scam after specialist officers in Manchester acted on intelligence to track down two suspects – and police say £7m is yet to be claimed. A 23-year-old man and a 25-year-old woman have been arrested for fraud and money laundering offences after Greater Manchester Police (GMP) received intelligence that those running the scheme had been in the city for a limited time. In all 150…
Huobi co-founder Du Jun does not believe there will be another crypto bull market until late 2024 or early 2025. Speaking to CNBC over the weekend, he said that judging by past market cycles, there might not be another for about three years. He said that “we are now at the start of a bear market”, before adding: “Following this cycle, it is not until late 2024-early 2025 that we can welcome the next bull market in bitcoin.” All About the Bitcoin Halving Jun believes Bitcoin market cycles are all closely tied to halving events. Prices surged in a new…
Former Australian Prime Minister Malcolm Turnbull is among those backing Sam Crowther, a Newcastle-born hacker who began his career “breaking things” for the Defence Signals Directorate, to fight the rampant rise of bot-related crime including in NFT markets. Mr Crowther, who raised $23 million in a Series C round last December for his bot security business Kasada, has started tracking NFT fraud which has exploded alongside the frenzied activity in crypto markets. Non-fungible tokens are pieces of tradeable code attached to a digital item. Brands across the world have been releasing limited edition NFTs that can act as exclusive tickets to events…
Sydney-based venture capital firm King River Capital has banked $50 million of an intended $150 million to form a new fund focused on so-called Web3 opportunities, with plans to buy into fast-growing cryptocurrency related projects. The new fund is the latest of a growing number of local VC firms looking to dabble in Web3, and will be incorporated offshore in a move that co-founders Zeb Rice and Chris Barter said would allow it to avoid dealing with the ambiguity of Australian crypto regulations. King River has brought in former macro hedge fund manager David Adams as a partner and digital…
After quite a while, Bitcoin has once again regained its spot as the top cryptocurrency mentioned on Twitter. For a period of time, other cryptocurrencies like Shib, Sol, and others have started becoming more popular than BTC but just recently, the top crypto regained its spot once again. After Bitcoin once again regained a market sentiment of neutral, the cryptocurrency once again dropped in price to the $38k mark bringing the Bitcoin fear and greed index back to extreme fear. With that, this has sparked once again the talk about BTC and whether it will be going up or down…
Traditional institutions are even starting to experiment with crypto, in anticipation of more widespread usage in Latin America Bancolombia, the South American country’s largest bank, is preparing to incorporate tangible use cases with cryptocurrencies, in a sign of their growing importance in Latin America, both for traditional institutions and regulators. Along with other banks, fintechs and exchange platforms, the lender is taking part in Colombia’s regulatory sandbox to experiment with buying and selling cryptocurrencies such as bitcoin, ether, bitcoin cash and litecoin. It’s a pilot project that has caught the attention of its customers. “At Bancolombia, we’ve been studying the…
Bitcoin (BTC) price has had a rough week as global markets turmoil saw the main drivers come from geopolitical tension in Ukraine and the unclear message the FED has delivered to markets in its FED minutes. As markets are propped on some excellent news out of Russia or Ukraine, expect investors to shake any nervousness off and get set for a solid week of gains next week, with tailwinds for Bitcoin price action to steam ahead to $50,000. Bitcoin price still set for new all-time highs, even with regulations on its path As markets focused merely on Russia and the…