ChainCatcher news, according to Cointelegraph, Europe's second-largest insurance company Allianz SE has acquired nearly 25% of the convertible notes due in 2031 from MicroStrategy.

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal announced that after Coinbase filed a FOIA request, a judge has ordered the Federal Deposit Insurance Corporation to release the Operation Chokepoint 2.0 suspension letter.Grewal decided to reveal how Coinbase's FOIA request demonstrates multiple instances of the FDIC instructing banks to cease cryptocurrency-related services. This legal push is part of Coinbase's broader efforts to compel regulators to clarify their stance on cryptocurrencies and increase transparency through the submission of FOIA requests and other actions.

ChainCatcher news, the crypto insurance brokerage Native has completed a $2.6 million seed round financing, led by Nexus Mutual.Native will provide $20 million of on-chain insurance for each risk and will operate a fund pool on Nexus Mutual.Ben Davies, co-founder and CEO of Native, stated in an interview: "Native's role is to help address the long-standing issue of underinsurance in the market. Without a liquid insurance market, no industry can thrive, which is why we have established an on-chain commercial insurance brokerage, something that the market truly lacks."

ChainCatcher news, Hong Kong digital asset insurance company OneDegree's parent company OneDegree Group announced its rebranding to "AIFT" to assist various sectors in addressing new needs arising from the rapid development of artificial intelligence (AI). Additionally, OneDegree will be adopted as the group's operational brand to support emerging trends in AI, Web3, and other future lifestyle models. Currently, OneDegree provides digital asset insurance services covering hot wallets and cold wallets, with clients including licensed virtual asset trading platforms such as HashKey.

ChainCatcher news, Coinbase has submitted two new Freedom of Information Act (FOIA) requests to seek clarity on U.S. cryptocurrency regulation. The new requests are directed at the Federal Deposit Insurance Corporation (FDIC) and were submitted by History Associates Incorporated on behalf of the exchange.Coinbase's Chief Legal Officer Paul Grewal stated that one of the requests aims to clarify the alleged 15% deposit limit imposed on digital asset companies. The request claims that the 15% deposit limit is implemented on banks such as Signature Bank, Customers Bank, Cross River Bank, Western Alliance Bank, and Silvergate Bank.The requested documents include interactions between FDIC board members, staff, deposit institutions, and officials from the Federal Reserve and the Office of the Comptroller of the Currency (OCC) since June 1, 2022.

ChainCatcher message, Ethereum co-founder Vitalik Buterin stated on social media that, in my opinion, insurance DAOs are underrated. A group of N people concerned about similar risks pools their funds together and agrees to provide coverage for anyone who suffers from those risks. The symmetric model ensures that the imbalance of interests is minimized.If needed, the DAO can still hire professional claims judges, but their incentives are fair and just, as no participant knows whether the next beneficiary will be themselves.Similar models have existed in the past and still exist in some places today.

ChainCatcher news, during the opening speech at the Invest in UAE Forum, Hong Kong's Under Secretary for Financial Services and the Treasury, Chen Haolian, stated that over the past year, Hong Kong and Dubai have continuously strengthened their partnership in the financial sector. Last year, a Hong Kong licensed insurtech company began a strategic collaboration with the oldest insurance company in the UAE, and their digital asset custody insurance has been approved by the Central Bank of the UAE to operate locally.In terms of cross-border payments, Chen Haolian pointed out that the Hong Kong Monetary Authority and the Central Bank of the UAE, along with three other central banks and the Bank for International Settlements Innovation Hub, are collaborating on a project called Multiple Central Bank Digital Currencies (mBridge) to explore the application of wholesale central bank digital currencies. The project completed its pilot phase in 2022, with 20 banks from four jurisdictions participating. This year, the project has reached the Minimum Viable Product (MVP) stage and will further expand participation from the public and private sectors.

ChainCatcher news, according to Cointelegraph, insurance provider OneDegree and a Dubai-based insurance company in the UAE jointly announced that they have begun offering digital asset custody risk insurance to clients in the UAE.The two companies have collaborated to launch a product called "OneInfinity," which has been approved by the Central Bank of the UAE. Custody risk insurance is part of the risk management strategies for custodians, exchanges, and other digital asset service providers. According to OneDegree, many global regulators require the provision of this product to offer protection to consumers.

ChainCatcher news, Hong Kong virtual insurance licensed company OneDegree announced a cooperation agreement with Walaa Cooperative Insurance Company in Saudi Arabia, which will support OneDegree in providing global reinsurance funding for its digital asset insurance products. It is reported that OneDegree joined MENA in 2023 and collaborated with many local and international participants choosing the region as the base for its Web3 business development. Through the partnership with Walaa, OneInfinity by OneDegree will support virtual asset service providers both regionally and globally.

ChainCatcher news, the Financial Services Commission of Korea requires virtual asset exchanges that have ceased operations to sign "virtual asset business insurance." Some closed exchanges, such as Gdac and Hanbitco, have already purchased insurance, while others, like Huobi Korea, are considering buying insurance.The insurance for virtual asset service providers is intended to help businesses cope with risks such as hacking attacks and system failures. Last month, with the implementation of the "Virtual Asset User Protection Act," purchasing insurance became a mandatory requirement.According to the "User Protection Act," continuing operations without accumulating reserves or without joining an insurance policy with a compensation limit of at least 5 billion won will result in fines and the inability to continue operations.

ChainCatcher news, according to CoinDesk, insurance policies supported by the Lloyd's of London in the UK insurance market can now be paid for with cryptocurrency on Ethereum.Insurance underwriter Evertas has partnered with the smart contract insurance market Nayms to offer on-chain policies, allowing customers to pay with USDC or native cryptocurrencies, or to fully insure on-chain.

ChainCatcher news, the L2 network Kinto announced on social media that it has partnered with the crypto insurance company Breach Insurance to provide theft and hacking protection services for user wallets.Breach Insurance will provide and manage the insurance coverage for Kinto wallets, with wallets holding assets over $100 automatically covered. For smart contract hacks and cyber attacks, users can receive a default insurance of $2,500 at no additional cost. Users can also use additional K tokens to enhance their protection level.

ChainCatcher news, according to the AMINA Group official website, China Pacific Insurance Group (CPIC)'s subsidiary China Taiping Investment Management (Hong Kong) (CPICIMHK) has reached a strategic cooperation with the Switzerland-based AMINA Group, aiming to bridge the traditional finance and cryptocurrency worlds in the Asia-Pacific region. Both parties will provide investment consulting and banking services for the Pacific Waterdrip Digital Asset Funds, targeting early blockchain projects and proof-of-stake digital assets.

ChainCatcher news, according to official sources, cryptocurrency custody service company Zodia Custody, supported by Standard Chartered Bank, SBI Holdings, Northern Trust, and National Australia Bank, has established a partnership with cryptocurrency lending expert Maple Finance.

ChainCatcher news, according to Decrypt, the insurance platform Athena Ins has launched decentralized insurance for DeFi risks. The platform allows individuals to subscribe to insurance, protecting their DeFi investments from various threats, including hacks, smart contract vulnerabilities, and stablecoin de-pegging.Unlike traditional insurance companies, Athena Ins operates through smart contracts, eliminating the need for centralized intermediaries, ensuring transparency and decentralization. Users can easily protect their deposits on DeFi protocols and receive compensation in the event of an insured incident.

ChainCatcher news, according to 8marketcap data, BNB's market capitalization has reached 102.66 billion USD, surpassing Ping An Insurance (with a market capitalization of approximately 101.9 billion USD), ranking 167th in the global asset market capitalization.

ChainCatcher news, according to official sources, the RWA platform Re has launched its first tokenized reinsurance fund on Avalanche, with crypto insurance provider Nexus Mutual investing $15 million, becoming one of the first investors.

ChainCatcher news, as Tether issues another 1 billion USDT this weekend, according to the latest data from 8MarketCap, its market capitalization has reached 11.146 billion USD, surpassing Ping An Insurance and rising to the 153rd position in the global asset market capitalization ranking.

ChainCatcher news, the decentralized finance wallet company Fordefi has obtained crime and cyber threat insurance from the German operator Munich Re.The amount of insurance has not been disclosed, but in addition to the general insurance amount for the Fordefi wallet (which uses a clever key-sharing feature, namely multi-party computation (MPC)), customers can also obtain additional coverage from Munich Re based on their individual circumstances.

ChainCatcher news, according to CoinDesk, the tokenized reinsurance RWA platform Re has completed a new round of financing of $7 million, led by Electric Capital.It is reported that the project had previously completed a $14 million seed round financing at the end of 2022, and Re aims to support $200 million in premiums by the end of this year.According to the Web3 asset data platform RootData, Re is a blockchain-driven reinsurance company that allows qualified investors to support real-world insurance policies and companies. It has established a decentralized reinsurance market on Avalanche's C-Chain and Subnet, which is a decentralized global insurance trading layer that addresses any type of insurance risk in a transparent manner to regulators, partners, and investors.