Many crypto exchanges and custodians have for years been unable to get insurance or shied away from getting it because of high premiums stemming from a dearth of insurers willing to underwrite the industry’s risk. Some big exchanges have chosen to insure themselves instead.
But that is slowly changing, as the traditionally risk-averse insurance industry—from big brokers to new startups—dips its toes into the water by setting up new teams focusing on cryptocurrency, hoping to profit from the industry’s rapid growth.
‘Enforcement 40’ for 2020
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