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• US-based crypto insurer Evertas expands coverage limits for digital assets insurance, offering boost to crypto sector

  TL;DR Breakdown Evertas, an insurance company focused on digital assets, has tripled its coverage limits for custodial crypto assets to $420 million per policy, offering increased risk transfer for blockchain projects. The company has also introduced coverage for mining operations, providing up to $200 million per policy, the highest coverage limit in the industry. Evertas’ expansions come after raising $14 million in funding and being granted official cover holder status by Lloyd’s of London, signaling growing confidence in the crypto sector. Evertas, a Chicago-based insurance company specializing in digital assets, has announced significant expansions to its coverage portfolio. The insurer has tripled the per-policy coverage limits for custodial crypto assets, now offering up to $420 million in coverage. This increase aims to provide blockchain-focused projects with nearly triple the previously available risk transfer. Additionally, Evertas has introduced coverage for mining operations, offering up to $200 million per policy, which is the highest coverage limit currently available in the industry. The policy expansions come just six months after Evertas raised $14 million in a Series A funding round led by Polychain…

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• A deep dive into the true impact of the XRP ruling

  TL;DR Breakdown The Chamber of Digital Commerce (CDC) published a report on the SEC’s lawsuit against Ripple, highlighting the profound implications for the crypto industry. The court provided a split decision, analyzing Ripple and its executives’ distribution of XRP tokens and applying the Howey Test to determine if they were securities. The ruling was categorized into three parts: Institutional Sales (SEC win), Programmatic Sales (Ripple win), and Other Distributions (Ripple win). Description The ruling against Ripple Labs, it’s crypto XRP, and its executives by the U.S. District Court of the Southern District of New York has sent ripples through the industry, opening up a labyrinth of legal interpretations and setting a precedent that could shape the future of digital assets. This case, centering on the sale and … Read more The ruling against Ripple Labs, it’s crypto XRP, and its executives by the U.S. District Court of the Southern District of New York has sent ripples through the industry, opening up a labyrinth of legal interpretations and setting a precedent that could shape the future of digital assets. This case,…

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• China bolsters yuan defense with this new trick

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• Nigeria’s President-elect Bola Ahmed Tinubu criticizes central bank’s interest policy and announces key economic decisio

  TL;DR Breakdown Nigerian President Bola Ahmed Tinubu criticizes the Central Bank of Nigeria’s aggressive interest rate policy, deeming it “anti-people” and “anti-business.” Tinubu announces the scrapping of the fuel subsidy, a long-standing policy that has significantly burdened Nigeria’s finances. Tinubu emphasizes the need for lower interest rates to stimulate investment and consumer spending while also pledging to review the central bank’s currency demonetization policy. In his inaugural address at Eagle Square, Abuja, Nigerian President Bola Ahmed Tinubu expressed his concern over the Central Bank of Nigeria’s (CBN) aggressive interest rate policy, which he deemed “anti-people” and “anti-business.” Tinubu, who was recently sworn in as the country’s president, emphasized the need for lower interest rates to stimulate investment and consumer spending in Nigeria. Lower interest rates for increased investment and consumer spending Tinubu’s remarks followed the CBN’s decision to raise the benchmark interest rate by 50 basis points. The central bank has defended its policy as necessary to combat rising inflation, which reached a 17-year high of 22.22% in April. However, Tinubu, whose presidential campaign focused on reducing unemployment and boosting…

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