A company plans to issue tokenized catastrophe bonds in Bermuda. The bonds will place legal ownership records on a blockchain. This initiative aims to attract capital for covering disaster risks that are currently expensive to insure. The move seeks to address a gap in the insurance market for such events.
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A senior Palantir executive in Europe has stated that the region is falling behind the United States in adopting artificial intelligence for business use. The executive believes Europe is repeating the mistake it made by hesitating during the rise of the internet. He argued that the U.S. is currently advancing rapidly in enterprise AI while Europe delays. The official also addressed what he views as the reasons behind the intense political criticism his company faces.
Tom Lee, chairman of Bitmine, predicts a $2 trillion wealth transfer will increase demand for cryptocurrencies. He expects younger investors to be the primary drivers of this demand for digital assets. His company, which holds ether in its treasury, is nearing ownership of 5% of the total ether supply. Lee's comments highlight a generational shift in investment preferences toward crypto assets.
Standard Chartered's digital assets division now offers custody services for the RLUSD stablecoin in Dubai. The bank also plans to facilitate the use of RLUSD as collateral on the LMAX Digital trading platform. This follows a previous $150 million financing arrangement from Ripple to LMAX to integrate the stablecoin. The moves aim to expand institutional access to RLUSD within regulated frameworks.
Hardware wallet maker Ledger stated that a crypto theft affecting up to $93 million has been traced. The company reported that approximately $10 million of the stolen funds have been frozen. Ledger claims every confirmed case involves devices sold by a specific Southeast Asian reseller. Critics argue Ledger must be accountable as the reseller was an authorized sales channel.
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