Investment platform eToro is now providing a free insurance scheme that will pay its customers holding traditional assets up to £1 million ($1.292 million) if the firm should ever become insolvent.In an emailed announcement on Monday, eToro said the new policy is underwritten by Lloyds of London and would apply in “the unlikely event that eToro were to enter a state of insolvency.” If it goes bust, the firm said the policy would “cover clients for losses above the relevant financial compensation schemes to a value of £1 million, and in accordance with the purchased policy.” In the U.K., the Financial Services Compensation Scheme would cover up to £85,000 (around $110,000) held in investments.The policy also covers both cash held on eToro’s platform and open accounts, however cryptocurrencies are not included since they are “unregulated assets,” the firm stated.eToro said the insurance would bring its millions of global users “additional peace of mind.” Share this: Funds Were Moving From QuadrigaCX Right Before Its Collapse news Nearly $1 million worth of ether (ETH) left QuadrigaCX and went to other cryptocurrency exchanges in December, the same month its CEO died, a CoinDesk review of public blockchain data shows.In a series of transactions sent from QuadrigaCX’s hot wallet (meaning one connected to the internet), more than 9,000 ETH moved from the… Morgan Stanley Report Says Crypto Now An Institutional Asset Class Institutional investors are increasingly getting involved in bitcoin and other cryptocurrencies – while the number of retail investors in the space is staying stagnant – according to a new report by Morgan Stanley.In an update to “Bitcoin Decrypted: A Brief Teach-In and Implications,” the global banking giant’s research division delved into the last six months of… Boston Fed Is Looking at ’30 to 40′ Blockchain Networks for Digital Dollar Experiments Aug 24, 2020 at 14:00 UTCThe Federal Reserve Bank of Boston is one of 12 regional Federal Reserve banks in the U.S., and is evaluating more than 30 blockchain platforms for a possible future central bank digital currency.
(Beland/Wikimedia Commons)Boston Fed Is Looking at ’30 to 40′ Blockchain Networks for Digital Dollar ExperimentsThe Federal Reserve… Facebook’s GlobalCoin May Be A ‘Historic Initiative,’ Say RBC Analysts news Facebook’s “crypto opportunity” comes with high expectations.“We believe this may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams,” RBC Capital Markets’ Mark Mahaney and Zachary Schwartzman said in a note on Thursday.
The two experts expect the currency to… Alleged Leader of OneCoin Ponzi Has Sentencing for Money Laundering Adjourned Jul 8, 2020 at 08:23 UTCUpdated Jul 8, 2020 at 08:28 UTCOne of the key figures alleged to be behind the massive crypto fraud OneCoin has again had his sentencing control date adjourned.Konstantin Ignatov was expected to be sentenced on Wednesday.Acting U.S.Attorney Audrey Strauss asked for the date to be moved by four… Crypto Exchange Poloniex Announces ‘Pre-Fork’ Trading for Bitcoin Cash Poloniex announced Tuesday it will be the first cryptocurrency exchange to offer trading for the pending bitcoin cash (BCH) hard fork amid an ongoing debate over the technology’s roadmap.Starting Wednesday night, Poloniex, operated by Goldman Sachs-backed startup Circle, revealed it will begin offering customers the option to buy bitcoin cash ABC (BCHABC) and bitcoin… JPMorgan Has Its Own Crypto and Its Starting Real-World Trials: Report news While its CEO, Jamie Dimon, is notorious for his critical comments on bitcoin, investment bank JPMorgan is preparing for a future where blockchain is a key part of financial infrastructure with its own cryptocurrency.Called JPM Coin, the token has been developed by engineers at the bank, according to a report from CNBC on… Ripple Avoids Securities Question in Motion to Dismiss XRP Lawsuit news Ripple has filed a motion to dismiss a lawsuit claiming it violated U.S.securities laws by selling XRP.In a new filing posted early Friday, attorneys for Ripple pushed back on allegations made by XRP purchasers suing the company, its subsidiaries and executives.Notably, the motion to dismiss specifically claims that the plaintiff, Bradley… Ethereum-Based Ad Firm Bidooh Sues Founders in Tech Ownership Dispute Jan 30, 2020 at 10:00 UTCDigital advertising company Bidooh has taken two of its former co-founders to court on accusations they stole company software.
Bidooh COO Vicki Simms said in the group’s official Telegram chat on Jan.20 that the platform had been “seriously tampered with” and that the company had taken legal proceedings against… .