{"id":517520,"date":"2022-11-29T00:30:00","date_gmt":"2022-11-28T21:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gk8-increases-insurance-cap-on-digital-assets-to-1b\/"},"modified":"2022-11-29T00:30:00","modified_gmt":"2022-11-28T21:30:00","slug":"gk8-increases-insurance-cap-on-digital-assets-to-1b","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gk8-increases-insurance-cap-on-digital-assets-to-1b\/","title":{"rendered":"# GK8 increases insurance cap on digital assets to $1B"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a35014adb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a35014adb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gk8-increases-insurance-cap-on-digital-assets-to-1b\/#%E2%80%9D_GK8_increases_insurance_cap_on_digital_assets_to_1B_%E2%80%9C\" >&#8221; GK8 increases insurance cap on digital assets to $1B  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_GK8_increases_insurance_cap_on_digital_assets_to_1B_%E2%80%9C\"><\/span>&#8221; GK8 increases insurance cap on digital assets to $1B  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMTIxYzE1MDYtODhhNS00NmRkLThiYzYtZDQ3N2I1YWY4NWJkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>Digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policy for institutional customers \u2014 a move the company said would incentivize banks and other financial institutions to start investing in cryptocurrency.\u00a0<\/p>\n<p>The insurance policy offers up to $1 billion of coverage per client for digital assets stored in GK8\u2019s cold vault and up to $125 million for assets stored in MPC custody, the company announced on Nov. 28. GK8 said the insurance caps are significantly higher than any other digital asset policies on the market today. <\/p>\n<p>Lior Lamesh, GK8\u2019s co-founder and CEO, said the new insurance coverage would \u201cincentivize new institutional players to confidently step into the crypto space\u201d and enable existing customers to increase their holdings of digital assets. <\/p>\n<p>Lamesh told Cointelegraph that GK8\u2019s clients \u201cneed access to a higher cap of insurance in order to increase the peace of mind and protect all the [assets under management] of their clients fully.\u201d<\/p>\n<p>USI Insurance Services, GK8\u2019s underwriting partner, is an insurance brokerage headquartered in Valhalla, New York. The company generated nearly $2 billion in revenue in 2021.<\/p>\n<p>Institutional investors have shown a keen interest in adopting digital assets, but concerns around regulation and security have limited uptake so far. The collapse of crypto exchange FTX may have exacerbated these concerns, with Binance CEO Changpeng Zhao opining that investor sentiment could take years to recover. Meanwhile, former United States presidential candidate Andrew Yang told the Texas Blockchain Summit on Nov. 18 that the FTX collapse could create an \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite\u201d for harsher regulation. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto insurance a \u2018sleeping giant\u2019 with only 1% of investments covered<\/em><\/strong><\/p>\n<p>Calls to curtail crypto adoption have grown louder in Washington, with senators Elizabeth Warren, Tina Smith and Richard Durbin urging Fidelity Investments to reconsider offering retirement planners access to a Bitcoin (BTC) investment product. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/gk8-increases-insurance-cap-on-digital-assets-to-1b\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; GK8 increases insurance cap on digital assets to $1B &#8220; Digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policy for institutional customers \u2014 a move the company said would incentivize banks and other financial institutions to start investing in cryptocurrency.\u00a0 The insurance policy offers up to $1&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMTIxYzE1MDYtODhhNS00NmRkLThiYzYtZDQ3N2I1YWY4NWJkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,117,70299],"class_list":["post-517520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-business","tag-insurance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517520"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517521"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}