Mike Novogratz-Backed BitGo Offers $100 Million in Crypto Insurance

BitGo, a crypto custodian backed by Goldman Sachs, is offering up to $100 million in insurance coverage for cold-wallet assets through Lloyd’s. There is no additional cost to BitGo clients. In a press release, the company said the $100 million of insurance coverage protects custodial assets held by BitGo against: Third-party hacks. Insider theft by employees …

Ex-Goldman Exec Sees Better Days Ahead for Crypto as Institution-Focused Crypto Brokerage Launches

Greg Tusar / Linkedin Despite the price declines that cryptocurrencies have endured this year, an ex-Goldman Sachs executive is still optimistic about the future of digital assets. Greg Tusar, who is a former global head of electronic trading at the New York-based financial giant, likened the current state of the crypto market to the ‘early …

Google-Backed Fintech Startup Uses Bitcoin for Cross-Border Settlement

Veem, a cross-border payments platform that uses bitcoin to move funds among businesses without the need of banks, has raised $25 million in a round led by Goldman Sachs, according to Forbes. The service, which does not require either counterparty to hold bitcoin directly, has quadrupled its revenue in the past year. Also participating in the …

Does Bank of America’s Crypto Custody Show Irrelevance of Bitcoin ETF?

This week, $312 billion Bank of America (BoA) filed a patent to offer crypto custody, targeting large-scale institutional investors and retail traders. Some experts have said that the efforts of major financial institutions to create institutional products around cryptocurrencies will bolster the adoption of crypto in US markets, which will naturally lead to other publicly …

Goldman Sachs, Wall Street Banks Sink $32 Million into Blockchain Startup

We may, as Lightning Labs CEO Elizabeth Stark said earlier this year, be entering a “bitcoin not blockchain” world, but the global banking cabal isn’t ready to capitulate on its support for enterprise blockchain products just yet. Indeed, Axoni, an enterprise blockchain startup founded in 2013, has just concluded a $32 million Series B funding …