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Under the agreement, Nexus will pay out if The Retail Mutual is on the hook for more than 57% of the community’s contributions in any one year as well as single claims above 200,000 British pounds ($255,000). The Retail Mutual rakes in about 2 million pounds a year, so Nexus
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The efforts of many charities organizations are often hampered by the red tape of bureaucracy, and the presence of hierarchical structures within these organizations can complicate matters even further. To bypass this inefficient rigamarole, PactDAO co-founder Marisa Rando suggests that those aiming to distribute aid focus on being “active” as this
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Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cryptox Markets & Research YouTube channel and explains complex concepts in layman’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity.This week’s show starts by discussing the mutual fund industry, including
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Nexus Mutual, one of the largest insurance platforms covering high-risk decentralized finance (DeFi) deposits, is waiting to get paid back by five clients who filed claims after the March incident, according to on-chain data. Together, those clients represent about $2 million in crypto of the nearly $2.4 million in total
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After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank. Federally Insured Depositors to Withdraw Funds on
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According to Russian business outlet Kommersant, Russian investment management firm Finam management has unveiled a new fund intended to finance crypto mining operations in the country. The fund will be available only to qualified investors who can invest a minimum of 300,00 rubles (approx. $4,000). Russia’s mutual fund for Crypto mining The Kommersant
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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that investing in a well-diversified portfolio of stocks, bonds, mutual funds, and exchange-traded funds (ETFs) is “very risky” advice. Kiyosaki stressed that gold, silver, and bitcoin are the best investments for “unstable times.” Robert Kiyosaki’s Investment
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However, more Nexus funds appear to be endangered. Orthogonal Trading’s defaulted debt on Maple’s wrapped ether credit pool amounts to some $5 million (3,900 wETH). On top of that, embattled market maker Auros Global failed to repay a $3.1 million (2,400 wETH) loan and has another $7.5 million (6,000 wETH)
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One of South Africa’s largest financial services groups, Old Mutual, has reportedly been appointed manager of the ZARP stablecoin project’s cash reserves. Founders of the stablecoin are hopeful that the appointment of one of the country’s oldest financial services companies will help bolster confidence in the digital currency. Enhancing Credibility of
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On Tuesday, special purpose acquisition company (SPAC) FinTech Acquisition Corp. V announced that it terminated its purposed takeover of Israeli cryptocurrency exchange eToro via a bilateral agreement. In explaining the decision, Fintech V chairman of FinTech V Betsy Cohen said: "eToro continues to be the leading global social investment platform, with
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