{"id":10291,"date":"2021-09-20T12:53:19","date_gmt":"2021-09-20T11:53:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=10291"},"modified":"2021-09-20T12:53:30","modified_gmt":"2021-09-20T11:53:30","slug":"cryptocom-insurance-program-now-covers-750m-in-digital-assets","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cryptocom-insurance-program-now-covers-750m-in-digital-assets\/","title":{"rendered":"Crypto.com insurance program now covers $750M in digital assets"},"content":{"rendered":"\n
Digital currency exchange Crypto.com's insurance policy<\/a> has been upgraded to cover up to $750 million in digital assets, this is to provide security for users of the platform.<\/h5>\n\n\n\n
\"Digital<\/figure>\n\n\n\n

Arch Underwriting, a division of Lloyd's Syndicate 12, is backing the new policy, which has been in force since September 6.<\/p>\n\n\n\n

The insurance covers Crypto.com's cold storage assets kept on Ledger Vault\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and includes both direct and indirect custodian coverage.<\/p>\n\n\n\n

The policy is one of the largest in the cryptocurrency business, surpassing the $700 million in coverage obtained earlier this year by digital custodian BitGo.<\/p>\n\n\n\n

Insurance coverage for digital assets is being expanded to protect against physical damage and, perhaps more importantly, third-party theft.<\/p>\n\n\n\n

As mainstream investors and institutional funds increasingly turn to cryptocurrencies, consumer protection standards are becoming increasingly vital.<\/p>\n\n\n\n

The overall cryptocurrency market<\/a> is now worth more than $2.2 trillion, after reaching a high of more than $2.5 trillion earlier this year. The overall value of crypto assets was around $350 billion a year ago.<\/p>\n\n\n\n

Hedge funds, asset managers, and companies have all become important actors in the market's growth. Now that crypto investing has been sufficiently de-risked in terms of professional reputation, financial advisers are also trying to get in on the fun.<\/p>\n\n\n\n

Retail investors are quite engaged in the industry, as evidenced by the popularity of mobile investing apps like Crypto.com.<\/p>\n\n\n\n

Despite the presence of major, institutional participants, crypto infrastructure remains vulnerable to concerted attacks, particularly within DeFi, as the $600 million Poly Network vulnerability<\/a> in August demonstrated.<\/p>\n\n\n\n

As more service providers emphasize security and data privacy regulations, insurance policies that provide monetary protection against theft are going to become increasingly important.<\/p>\n","protected":false},"excerpt":{"rendered":"

Digital currency exchange Crypto.com’s insurance policy has been upgraded to cover up to $750 million in digital assets, this is to provide security for users of the platform. Arch Underwriting, a division of Lloyd’s Syndicate 12, is backing the new policy, which has been in force since September 6. The insurance covers Crypto.com’s cold storage […]<\/p>\n","protected":false},"author":12,"featured_media":10296,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[1360,1526,4501],"class_list":["post-10291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-crypto-com","tag-digital-assets","tag-insurance-program"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Cryptocom-insurance-program-now-covers-750M-in-digital-assets.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=10291"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10296"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=10291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=10291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=10291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}