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In an Oct. 16 update to Binance.US’s terms of service for the exchange, a clarification was made that digital assets do not qualify for FDIC insurance coverage. The update also specifies that users must convert U.S. dollars into stablecoins or other cryptocurrencies before making withdrawals. U.S. dollar funds to stablecoin As part of
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CNA Financial, the seventh-largest commercial insurer in the United States, has excluded nonfungible tokens (NFTs) coverage from Schwab Strategic Trust’s policy worth $20 million.In a filing submitted to the US Securities and Exchange Commission (SEC), the insurer attached an exclusion to the document, mentioning that the bond does not cover
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London-based Arch Insurance International, a syndicate member of Lloyd's of London, has authorized Evertas to increase its coverage limit for a single policy for crypto custodians and exchanges to $420 million in a significant boost for risk management in the cryptocurrency industry. Source
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The crypto exchange set off a kerfuffle by describing the Pepe the Frog meme as having been co-opted as a hate symbol by alt-right groups. Original Source
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Three stories were honored, including Ian Allison’s scoop that led to Sam Bankman-Fried’s $32 billion crypto empire collapsing in days. Source
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Aegis, which says it holds trust license in Hong Kong and and the U.S., offers custodial services for on-chain transactions, while Lido, the largest decentralized finance (DeFi) app by total value locked, provides staking services to users that want to access liquidity to their staked assets. Source
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Coinbase will be “acutely pressured in the near-term” as its retail customer base trades less frequently in the bear market, but the company has staying power due to its healthy balance sheet with over $5 billion in cash, it's proactive approach to regulatory compliance, prudent risk management and its legitimacy
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The crypto community on Twitter is heavily criticizing the mainstream media for its poor and biased coverage of the collapse of cryptocurrency exchange FTX. In a piece published on Nov. 18 by Forbes Magazine, the CEO of FTX’s affiliate company Alameda Research, Caroline Ellison, has been dubbed “Queen Caroline.”The magazine attempts
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Financial and technical information platform Bloomberg has vastly expanded its coverage of crypto markets after a decision to include data on the top 50 crypto assets to the Bloomberg Terminal.Product manager for cryptocurrencies at Bloomberg Alex Wenham suggested that as “the global institutional investor” community’s interest in digital assets continues
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