Breach Launches Crypto Shield, the Industry's First Regulated Insurance Product for Retail Crypto Investors – Yahoo Finance

February 15, 2022 By admin

Featured Image for Breach Insurance
BOSTON, Feb. 15, 2022 (GLOBE NEWSWIRE) — Breach Insurance, a Boston-based crypto insurtech that provides insurance technology and regulated insurance products for the cryptocurrency market, announced the launch of Crypto Shield. The retail crypto investor product covers theft of crypto while in the custody of qualified exchanges.
The industry-first insurance product is available for over 20 cryptocurrencies to consumers using Binance US, Coinbase, CoinList, and Gemini. Crypto Shield is backed by an insurance carrier that has earned a financial strength rating of "A-" (Excellent) from A.M. Best, the largest credit rating agency specializing in assessing the insurance industry.
"For a market as large as crypto, there is a huge gap in availability of insurance for both retail and commercial customers. Crypto Shield is an innovative, first-of-its-kind product that directly addresses this market gap. CoinList is proud to be in the launch cohort alongside other trusted exchanges like Coinbase, Gemini, and Binance US," said Scott Keto, COO of CoinList.
The number of Americans who own crypto recently exceeded 30M and the increased adoption of the technology has led to a surge in hacks. Since 2011, over 60 exchange hacks occurred, compromising over $60B in crypto to date. According to a report from Atlas VPN, $3.8B in crypto was stolen in 2020, and the frequency of hacks has increased dramatically, with 2020 accounting for 33% of hacks all-time. Crypto Shield was developed to provide consumers with an alternative to FDIC and SIPC coverages, as these protection layers are unavailable for crypto investors.
"We are proud to offer consumers a regulated crypto insurance solution that protects policyholders from real financial risks. Breach is on a mission to create new insurance capacity and products for the crypto economy, and the release of Crypto Shield is a major milestone in that mission," said Eyhab Aejaz, CEO and Co-Founder of Breach Insurance.
"Eyhab's deep roots in insurance have helped surmount uncharted crypto insurance hurdles – in full compliance with stringent regulatory frameworks. His team is unrivaled in its execution of ambitious product roadmaps – and in its keen eye towards the high standards of re/insurance partners and insurance regulators," said Don Stalter, GCF partner and North America lead.
Breach Insurance selected Boost Insurance as its infrastructure partner to bring this product to market, building a fully digital experience for customers to insure their crypto. With its insurance infrastructure-as-a-service (IaaS) platform, Boost was the ideal partner to deliver this first-of-its-kind product to the market.
"My team and I are happy to partner our infrastructure with Breach's vision for the first crypto insurance for retail wallet holders," said Alex Maffeo, CEO and Founder of Boost. "Our goal is to not only make insurance more convenient and accessible for end-users but also to assist innovative players like Breach in developing new insurance products for presently underserved markets."
Breach, through its proprietary insurtech platform, provides policyholders with a fully digital experience, allowing consumers to easily purchase policies, make changes, and submit claims. Crypto Shield is now available in California, Illinois, Massachusetts, Michigan, New York, New Jersey, Nevada, Pennsylvania, Texas, and Washington.
MEDIA CONTACT: [email protected]
Breach Insurance ("Breach") is a Boston-based insurtech company that provides insurance technology and regulated insurance products for the cryptocurrency market. Combining deep expertise in insurance, cybersecurity, and crypto, Breach is building a global insurtech, exclusively serving the crypto economy. Crypto Shield is currently available in 10 U.S. states and provides individuals with up to $1M of coverage for the theft of crypto while in the custody of qualified exchanges. Please visit for more information.
Related Images

Image 1

This content was issued through the press release distribution service at
Featured Image for Breach Insurance

Ric Edelman, The Digital Assets Council of Financial Professionals Founder, sits down with Yahoo Finance Live to talk about adding cryptocurrencies in moderation to investment portfolios, crypto regulations, ETFs, and advisors becoming crypto literate.
Net worth is a financial metric that can help you keep your individual picture of your finances in perspective. The average net worth by age, in this case, refers to the net worth of the households in the U.S. divided … Continue reading → The post Average Net Worth by Age appeared first on SmartAsset Blog.
(Bloomberg) — Elon Musk gifted almost $6 billion worth of Tesla Inc. stock to charity late last year in one of the largest philanthropic donations in history.Most Read from BloombergElon Musk Donated $5.7 Billion of Tesla Shares to CharityPutin Seeks Diplomatic Solution Amid ‘Partial’ Troop PullbackPutin Sees Basis for Talks After Scholz Meeting: Ukraine UpdateTrump's Accountants Just Quit. What Took So Long?Sarcasm in Ukraine Roils Markets Swinging Between War, PeaceThe world’s richest man don
Semiconductor stock Nvidia (NASDAQ: NVDA) got another lift on Tuesday morning when investment bank Piper Sandler predicted — on the day before fourth-quarter earnings arrive — that Nvidia will deliver a "significant beat and raise," as reported this morning. "Overall, demand [for Nvidia's chips] continues to be strong for gaming given the adoption of RTX GPUs with ray tracing," Piper Sandler said this morning. In short, Piper Sandler is predicting that Nvidia will exceed expectations for 48% quarterly revenue growth and 58% earnings growth in its fourth-quarter report.
Shares of Palantir (NYSE: PLTR) were up by roughly 3.4% as of 1 p.m. ET Monday, after having been up by as much as 4.6% earlier in the session. The big-data specialist's share price gains were apparently driven by CEO Alex Karp's 2022 letter to shareholders, which was published before the market opened. While the letter contained little in the way of detailed company-specific news, Karp laid out some commentary on Palantir's business and the software industry broadly.
Soaring costs and intense pricing competition have crushed profit margins in wind power, but some respite may be on its way.
The stock market is often an exercise in reverse psychology. When a stock goes up, investors instinctively want to get a piece of the action. Likewise, when a stock drifts to the bottom, the natural inclination is to run away. But any investor worth their salt knows they need to battle against those natural impulses as the bottom is often the most appealing starting point; because it is from there that the real gains are made. Of course, not any stock lying in the doldrums is worth picking up, t
Once upon a time, Novavax (NASDAQ: NVAX) ranked as the hottest COVID-19 vaccine stock around. These days, Novavax is anything but hot. Its shares are down more than 40% so far this year and more than 70% below their 52-week high.
(Bloomberg) — Harold Hamm executed one of the largest wealth transfers in U.S. history last week, handing each of his five children a stake worth about $2.3 billion in Continental Resources Inc., the shale drilling company he founded more than 50 years ago.Most Read from BloombergHere’s What the Pandemic Has in Store for the World NextPutin Signals Talks With U.S. to Go On as Some Drills EndStocks Fail to Hold Gains as Treasury Yields Jump: Markets WrapCovid’s Great Uncoupling: Gap Widens Betwe
Berkshire Hathaway bought Activision Blizzard before Microsoft swooped in. Not all "Warren Buffett stocks" are actually his picks.
The race is on to add dividends to stock portfolios. But investors are still being picky in the S&P 500 — and know what they're looking for.
Yahoo Finance's Julie Hyman and Brian Sozzi discuss David Einhorn shorting Tesla again.
Yahoo Finance Live's Julie Hyman and Brian Sozzi discuss Intel acquiring Tower Semiconductor as well as fourth quarter earnings for Marriott International and Burger King parent Restaurant Brands.
Stocks in the electric vehicle (EV) sector have attracted loads of attention following the success of Tesla's (NASDAQ: TSLA) stock and now its business. Tesla reported net income of more than $5.5 billion in 2021.
Pinterest (NYSE: PINS) was one of the unintended beneficiaries of the pandemic's onset. The company experienced a further tailwind as people were more often undertaking DIY projects and cooking, and visiting Pinterest for inspiration. The company has lost monthly active users for three consecutive quarters, and its stock is down considerably from its all-time high.
These supercharged income stocks, with yields ranging from 7.4% to 13.4%, can put rising costs in their place.
What can we say about 2022? The year is only 6 weeks old, and the markets – which climbed so high in 2021 – are in a correction. The NASDAQ has fallen almost 12% since the start of the year, and the S&P 500 is behind at a net year-to-date loss of 8%. The losses have been broad-based, although tech has been particularly hard hit. The headwinds pushing against the market momentum have come in a cluster. From the supply chain bottlenecks, to increasing shortages of goods, to steadily rising inflati
In this article, we discuss 10 cheap pharmaceutical stocks for 2022. If you want to skip our detailed analysis of these stocks, go directly to 5 Cheap Pharmaceutical Stocks For 2022. The pharma industry is in the midst of a fundamental transformation as disruptive technologies like artificial intelligence, machine learning, and natural language processing become […]
Roblox is set to report its Q4 earnings after the bell on Tuesday.
A health savings account (an HSA) is a form of tax-advantaged retirement account designed for healthcare spending. You can make contributions to your account at any time so long as you aren’t enrolled in Medicare. During any period when you … Continue reading → The post Can I Contribute to an HSA After I Retire? appeared first on SmartAsset Blog.