Could insurance save crypto firms from cliff-edge ? Washington DC
Reflections in the front facade of the Securities and Exchange Commission ( SEC ) building . The co-founders of crypto insurance company Evertas have suggested that mandating insurance for Web3 businesses would be more effective at reducing the number of insolvency events – and minimising damage to consumers when they occur – than tighter regulation . Some crypto holders lost thousands of dollars when the crypto exchange FTX collapsed at the end of last year . Its founder , Sam Bankman-Fried , was arrested on suspicion of eight different charges , including fraud and money laundering , before being released on bond in December . insurtechdigital . com 15