Reinsurance companies offer protection for insurance firms, collecting premiums to cover certain types of risks. With nearly $1 trillion in premiums annually, reinsurance is a cornerstone of today’s financial markets and commerce, Karn Saroya, chief executive officer of Re said in an interview with CoinDesk. Source
Bitcoin fell below $62,000 during the European morning on Tuesday, losing about 1.63% over 24 hours. The CoinDesk 20 Index (CD20), a broad measurement of the digital asset market as a whole, fell almost 1.1%. Ether declined more than 2% to just above $2,900, while solana was largely unchanged at $145. In the next 24 hours, attention will turn to inflation reports out of the U.S. The latest Producer Price Index (PPI) is set for release at 08:30 ET today and the Consumer Price Index (CPI) is due tomorrow. Stubbornly…
Alexey Pertsev was found guilty of money laundering $1.2 billion worth of crypto. Source
“The industry is only just starting to come to grasp with memes being fun, relatable, enjoyable, and representative of the average person,” said B, lead developer at Floki, in a note to CoinDesk. “The vast majority of retail is flocking over to meme coins and ignoring the tired old “utility” crypto projects.” Source
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“I think there’s a long time between now and an election and so I wouldn’t expect them to further the details out at this point,” said Varun Paul, senior director and business lead for CBDC and financial market infrastructure at Fireblocks. “I’m pleased – I don’t think that digital assets are proving to be a political hot potato at the moment, I think we’re lucky in the U.K. that it’s not become a political battleground like it has been in the U.S.” Source
Philippines’ central bank has given its approval to digital currency exchange Coins.ph to pilot a Philippine Peso backed stablecoin called PHPC, the company said last week. Source
Block trades are privately negotiated futures, options, or combination trades exceeding certain volume thresholds. Participants typically use communication technologies like Paradigm to request quotes bilaterally and agree on the price, following which the trade is submitted to an exchange, in this case, Deribit, for execution and clearing. Source
The crypto exchange’s website is currently unavailable and responds with a 503 error. Source
“Self-custody wallet experience was completely broken and required users to go through several hurdles of the Web3 space like blockchain, self-custody, security and trust, signing transactions or gas fees,” said Khandelwal. “Okto is the first such system which provides a Web 2-like single click mobile experience in the Web3.” Source