Bittrex Takes Out Record $300M Insurance on Crypto Held in Cold Storage

Bittrex has insured digital assets held in its cold (or offline) storage to up to $300 million, the highest coverage yet offered by a cryptocurrency exchange. The company announced the news Thursday, saying it has obtained digital asset insurance that will protect users’ holdings in cases of “external theft and internal collusion.” Bittrex CEO Bill […]

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State Farm, USAA to Pay Each Other Insurance Claims on Blockchain by 2020

U.S. insurance giants State Farm and USAA have entered advanced testing of a blockchain to automate the time-consuming and paper-heavy processing of automobile claims. Announced Thursday, the companies developed this system using Quorum, the private enterprise version of ethereum created by JPMorgan Chase. State Farm and USAA began working on the joint platform (which is […]

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