bitcoin
Bitcoin (BTC) $ 98,508.39 0.87%
ethereum
Ethereum (ETH) $ 3,336.78 6.44%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 258.45 6.78%
bnb
BNB (BNB) $ 627.01 2.82%
xrp
XRP (XRP) $ 1.40 24.56%
dogecoin
Dogecoin (DOGE) $ 0.387528 1.23%
usd-coin
USDC (USDC) $ 1.00 0.05%
staked-ether
Lido Staked Ether (STETH) $ 3,334.95 6.30%
cardano
Cardano (ADA) $ 0.863827 10.81%
Blog

NYDIG Raises $100 Million, Details Bitcoin-Powered Insurance Strategy

NYDIG has announced a $100 million raise of growth capital with strategic partnerships and hires for a bitcoin-powered insurance strategy.

In an April 8, 2021 release, NYDIG, the bitcoin-focused investment subsidiary of Stone Ridge, announced a $100 million raise of growth capital.

Among the list of partners for this fundraise are Starr, Liberty Mutual Insurance, and other property and casualty insurers, joining NYDIG’s existing partnership with New York’s MassMutual. This marks notable investment in a bitcoin-focused group by traditionally conservative companies.

NYDIG also announced that Mike Sapnar, the CEO of major reinsurer TransRE, would become its global head of insurance solutions and oversee all NYDIG insurance activities. Sapnar will be joined by NYDIG U.S. Head of Insurance Solutions Matt Carey, who will be “focused on bitcoin-powered solutions for U.S.-based life insurance and annuity providers,” per the announcement.

“The global property and casualty (P&C) industry is huge, paying out over $1 trillion in claims annually,” said Robert Gutmann, cofounder and CEO of NYDIG, said in the release. “I am excited to welcome Starr and Liberty Mutual to NYDIG, as part of our expansion of bitcoin into new areas of insurance.”

Related Posts
Japan’s-$1.5-trillion-pension-fund-explores-diversifying-into-bitcoin
Bitcoin Magazine Feed

Japan’s $1.5 Trillion Pension Fund Explores Diversifying Into Bitcoin

Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund managing over $1.5 trillion in assets, has announced it will explore diversifying a portion of its portfolio into Bitcoin.According to the announcement, the GPIF will solicit information on illiquid alternative assets like Bitcoin, gold, forests, and farmland as part of its diversification efforts. While
What-is-a-medium-of-exchange?-a-comprehensive-guide
Bitcoin Magazine Feed

What is a Medium of Exchange? A Comprehensive Guide

Medium of ExchangeAs society’s structure and organization became more complex over time, the need for an evolving monetary system arose from the limitations of barter. Barter is not suitable as a means to exchange goods and services in an economic system larger than a tribe or family; barter was unsuitable for expanding societies that needed…
Is-iran-becoming-a-bitcoin-nation?
Bitcoin Magazine Feed

Is Iran Becoming A Bitcoin Nation?

Late last month, Iran Daily, the official newspaper of the country’s government, reported that the administration had amended its cryptocurrency legislation to make digital assets “exclusively used for funding imports at a time of increased pressure on the country’s normal use of hard currencies.” In practice, this means that bitcoin and other cryptocurrencies that are…
Blockstream-announces-progress-on-signature-aggregation-research
Bitcoin Magazine Feed

Blockstream Announces Progress On Signature Aggregation Research

Signature aggregation could bring massive data-efficiency benefits to the network as well as open up more unique use cases, demonstrating bear market building.The below is a direct excerpt of Marty's Bent Issue #1236: “Blockstream has made some progress on signature aggregation research.” Sign up for the newsletter here. via Blockstream via Blockstream There's currently a…
The-current-state-of-public-bitcoin-mining
Bitcoin Magazine Feed

The Current State Of Public Bitcoin Mining

The trend of falling hash price will force weaker miners to unplug, find more efficient energy sources and/or sell off machines or bitcoin holdings.The below is a full, free excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain…
Microstrategy-bought-11,931-more-bitcoin-for-$786-million
Bitcoin Magazine Feed

MicroStrategy Bought 11,931 More Bitcoin For $786 Million

MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 11,931 BTC at a total cost of $786 million.BREAKING: MicroStrategy buys an additional 11,931 #Bitcoin for $786 million. pic.twitter.com/H7XN5XtBtK— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024 On June 18, MicroStrategy completed a private offering of convertible senior
Customers-can-now-verify-kraken’s-bitcoin-reserves
Bitcoin Magazine Feed

Customers Can Now Verify Kraken’s Bitcoin Reserves

The company recently passed an independent audit on its bitcoin holdings and has enabled a ‘Proof of Reserves’ feature to its customers.Kraken customers can now independently verify that the bitcoin funds they hold on the cryptocurrency exchange are backed by actual assets after the firm launched its Proof of Reserves feature, enabling a new level…
Why-china’s-ban-was-the-best-thing-for-bitcoin-in-2021
Bitcoin Magazine Feed

Why China’s Ban Was The Best Thing For Bitcoin In 2021

The latest ban on Bitcoin activity in China generated negative headlines in 2021 but looking back, it was the best thing that could have happened last year.When China’s bitcoin crackdown came into effect, many speculated that the industry would never recover. Amazingly, though, the ban served to highlight both the resilience of the sector and…
Loading data ...
Comparison
View chart compare
View table compare
Back To Top