DeFi lender Nostra pauses borrowing after price feed error
Nostra, a lending protocol on Starknet, has paused borrowing for two liquid staking tokens after identifying a “critical issue” with its price feeds, the decentralized finance (DeFi) protocol said. On March 24, errors in Nostra’s price feed inflated the reported prices of xSTRK and sSTRK — two liquid staking derivatives of Starknet’s native STRK token — to approximately three times the tokens’ actual value, Nostra said in a post on the X platform.According to Nostra, “[s]uch an inflated price feed could have caused unnecessary liquidations of otherwise safe positions, resulting in users with healthy positions getting liquidated.” In response, the DeFi protocol has disabled any further borrowing against xSTRK and sSTRK collateral deposits, Nostra said. Nostra has also recommended that users with existing xSTRK and sSTRK deposits withdraw the collateral immediately. “Since we don’t have a secondary (fallback) oracle to support these assets, as none are available, we are unable to fully prevent similar events from occurring in the future,” Nostra added.“Our priority has always been and continues to be to keep existing user funds safe and with no fallback oracle, the risks outweigh the benefits,” it said. Nostra’s collateral token options. Source: NostraRelated: Starknet to settle on Bitcoin and Ethereum to unify the chainsStarknet DeFi protocolStarknet is a layer-2 scaling chain of Ethereum secured using zero-knowledge (ZK) proofs. It launched its mainnet in late 2021, according to Messari.It has a total value locked (TVL) of approximately $575 million, according to data from L2Beat. Lending protocol Nostra is among the larger DeFi projects operating on the chain. It has a TVL of approximately $55 million, according to its website. On Nostra, users post collateral in one token to borrow in another token. The DeFi protocol’s most popular collateral tokens are Ether, STRK, and stablecoins USDC (USDC) and Tether (USDT). Starknet designed STRK to be staked in exchange for a portion of the network’s fee revenues, according to its documentation.xSTRK and sSTRK are liquid staking tokens issued by independent DeFi protocols Endur and Nimbura, respectively. Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
Crypto exchange Kraken exploring $1B raise ahead of IPO: Report
Cryptocurrency exchange Kraken is considering a major capital raise ahead of a potential initial public offering (IPO) early next year, Bloomberg reported on March 24. Citing anonymous sources, Bloomberg said Kraken is exploring a debt package worth anywhere between $200 million and $1 billion. The exchange is reportedly in preliminary talks with Goldman Sachs and JPMorgan Chase about facilitating the transaction.The source reportedly told Bloomberg that the funds would be used to support Kraken’s growth and not for operational expenses. Bloomberg has been reporting about Kraken’s IPO ambitions for the better part of a year. Talks of going public have intensified following the election of US President Donald Trump, with Bloomberg claiming that Kraken’s IPO could come in the first quarter of 2026.Cointelegraph contacted a Kraken representative about the potential debt package and IPO, but they declined to comment. Kraken is one of the world’s largest crypto exchanges, facilitating more than $1.1 billion in trading volume over the past 24 hours, according to CoinMarketCap data. The exchange grew rapidly in 2024, with year-end financial statements showing $1.5 billion in revenue — a gain of 128% compared to 2023. The company’s adjusted earnings reached $380 million for the year. Kraken’s year-end financial statements show significant growth in revenue, funded accounts and assets. Source: KrakenRelated: Kraken secures MiFID license to offer derivatives in EuropeKraken’s latest acquisitionKraken is expanding its footprint in the derivatives market with the $1.5 billion acquisition of NinjaTrader, a popular brokerage service specializing in futures contracts. The acquisition is part of the exchange’s broader push into multi-asset services, including equities and payments. NinjaTrader was founded in 2003 and is registered with the US Commodity Futures Trading Commission. Source: Arjun SethiThe acquisition suggests crypto companies are growing their business with confidence following the election of a pro-crypto Republican administration. As Cointelegraph reported, Kraken was one of several crypto exchanges to be freed from enforcement action by the US Securities and Exchange Commission. A positive regulatory climate may have contributed to Kraken’s decision to resume crypto staking services for US clients after a nearly two-year hiatus. Clients in 37 states can now access staking services across 17 cryptocurrencies, including Ether (ETH) and Solana (SOL).Magazine: Unstablecoins: Depegging, bank runs and other risks loom
Bhutan government moves $63M BTC to three wallets
The Bhutan government moved $63 million worth of Bitcoin (BTC) on March 24 to three wallets, according to Onchain Lens, which analyzed data from Arkham Intelligence.One of the wallets now holds 600 BTC worth approximately $53 million at time of writing.Bhutan has leveraged its abundant hydroelectric power to mine Bitcoin since 2019. In September 2024, Arkham indicated that it had found the first wallet tied to the Bhutan government’s investment arm, Druk Holdings. After the March 24 transfers, the wallet holds $889.9 million invested in Bitcoin.Source: Onchain LensThe statistics indicate that Bhutan’s cryptocurrency holdings represent 30.7% of its gross domestic product (GDP), which, according to the latest data from the World Bank, reached $2.9 billion in 2023.Although Bitcoin is the primary holding of the Bhutan government, the nation does not seem to be pursuing a solely Bitcoin-based strategic reserve. Other stacks in the Druk Holdings wallet are $334,580 of Ether (ETH) and smaller amounts of LinqAI (LNQ), Phil (PHIL), and Apu Apustaja (APU), among other coins.Crypto holdings of the Bhutan government as of March 24, 2025. Source: Arkham IntelligenceIn October 2024, Bhutan moved $66 million of its BTC holdings to Binance. Over the past two months, the government has been moving small portions of Bitcoin and Ether out of its main wallet to other addresses.Governments adopt cryptocurrency reservesBhutan’s national government isn’t the only government body adopting cryptocurrency in the country — the practice has filtered down to the city level as well. In January 2025, Bhutan’s Gelephu Special Administrative Region announced plans to recognize a variety of digital assets as part of its strategic reserve.Related: Bitcoin’s role as a reserve asset gains traction in US as states adoptGovernments that have adopted a Bitcoin strategic reserve have seen their holdings multiply during this 2024-present bull run. El Salvador saw the value of its Bitcoin holdings surge to $100 million in November 2024, and the United States government now holds over $17 billion in Bitcoin.While national governments garner the most attention, some state governments are thinking of creating Bitcoin reserves as well. In the US, Texas has passed its Bitcoin reserve bill, although it still must be signed into law by the state’s governor. Bitcoin reserve bills in some states like Arizona are inching closer to becoming law, though a few states have already rejected their Bitcoin bills for a variety of reasons.Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
Will Bitcoin price hit $130K in 90 days? Yes, says one analyst
Bitcoin (BTC) delivered its best weekly performance in over two months, climbing 4.24% to an intra-day high at $88,804. BTC also reclaimed a bullish stance on the charts, closing above the daily chart’s 200-day exponential moving average (EMA).Bitcoin 1-day chart. Source: Cointelegraph/TradingViewWith a weekly close above $84,600, the likelihood of BTC testing $90,000 increases. However, BTC price must overcome the descending resistance level to make a sustainable move at the range highs. Bitcoin correction is a “healthy pause”Bitcoin researcher Axel Adler Jr. explained that based on onchain metrics, the current price cycle reflects a healthy consolidation rather than the beginning of a bear market. Adler Jr. noted that BTC has not yet entered “overheated” territory in this cycle, as indicated by BTC’s Investor Price Model. This metric flashed a sell signal twice during 2021, and the model incorporates the realized cap, thermo cap, investor price, and Bitcoin supply. Using Bitcoin’s cumulative value days destroyed (CVDD), Adler argued that the market remains in a “growth stage.”Bitcoin cumulative value days. Source: adlercryptoinsights / SubstackThe CVDD metric monitors selling activity among long-term holders. The current bull cycle (2024-2025) triggered a sell signal just once, back in March 2024. In a Substack article, Adler said,“Considering the current market dynamics, we might see seasoned investors taking profits once Bitcoin breaches key peak levels ($123K), potentially exerting downward pressure on the price.”From the above analysis, Adler Jr. predicted that Bitcoin could climb to $130,000 within 90 days.Related: Bitcoin must reclaim this key 2025 level to avoid new lows — ResearchBitcoin open interest jumps $1.5 billion in 24 hours According to Velo data, Bitcoin’s open interest (OI), representing the total value of outstanding futures contracts, jumped by over $1.5 billion in the last 24 hours. Meanwhile, the funding rate, which reflects the cost of holding leveraged positions, stayed near neutral. This suggests that neither bullish (long) nor bearish (short) traders were dominantly in control. Bitcoin price and aggregated open interest. Source: Velo.chartBitcoin experienced a surge in upward momentum late on Sunday, March 23rd. Weekend price rallies like this often occur with lower trading volume, as larger market participants tend to step back until the start of the week. In such a scenario, leveraged trades amplifying the action could heavily influence the price movement.In an X post, anonymous crypto analyst IT Tech PL also pointed out the OI level rise after BTC exceeded $87,500. However, the analyst added, “But here’s the catch: High OI + Rapid Price Increase = Risk of Liquidation Cascades!”Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewFrom a technical perspective, Bitcoin registered a new high at $88,750 over the previous week’s top. However, as the chart exhibited, the price tested the upper Bollinger Band alongside the descending resistance. Additionally, BTC is also oscillating within an ascending channel. Based on the above confluence, BTC could witness a short-term correction to test the demand zone around $86,000-$87,000 before breaking through the $90,000 threshold. Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchaseThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin price pumps, but will BTC break $92K anytime soon?
Bitcoin (BTC) price surged by 3% on March 24, distancing from its $76,900 low on March 11 despite failing to sustain the $88,000 level. Now, traders are wondering what factors could drive Bitcoin’s daily close above $92,000, which last occurred on March 3. Adding to cryptocurrency investors’ frustration, gold is trading just 1% below its record high of $3,057, while Bitcoin price trades 19% away from its all-time high.S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphSome analysts attribute Bitcoin’s recent price gains to the US-listed company Strategy increasing its BTC reserves, while others highlight macroeconomic factors, such as easing inflation expectations and a softer stance from US President Donald Trump on tariffs. Despite this constructive backdrop, traders question what is preventing Bitcoin from maintaining its bullish momentum.Bitcoin’s upside is limited as investors fear an economic recessionEconomists expect signs of a slowdown in the “core” Personal Consumption Expenditures (PCE) index, which is projected to rise by 2.7% in February, according to Yahoo News. This data, the US Federal Reserve’s preferred inflation metric, is set to be released on March 26.Implied expectations for the Sept. 17 FOMC. Source: CME FedWatch tool / CointelegraphIf confirmed, the softer inflationary trend would support Federal Reserve Chair Powell’s remarks on transitory inflation and increase the likelihood of two interest rate cuts in 2025, as reflected in the Treasury futures market.As the US central bank shifts to a less restrictive monetary policy, risk markets typically benefit from increased liquidity and reduced fixed-income appeal. However, uncertainty remains regarding economic growth.Investors are increasingly worried about recession risks due to excessive valuations in artificial intelligence stocks and concerns that US federal spending cuts could negatively impact consumers and the commercial real estate market. While these issues have little direct connection to Bitcoin, traders fear that all risk markets could suffer if the threat of stagflation emerges.The Wall Street Journal reported that President Trump is considering scaling back some tariffs initially planned for April 2. Although unconfirmed, the news suggests Trump may exclude certain industry-specific duties and grant exemptions to some nations. On March 24, S&P 500 futures rose 1.5% as investors perceived lower economic contraction risks, potentially supporting Bitcoin’s price gains.Strategy buys more Bitcoin, but is their tactic sustainable?On March 24, Strategy announced the acquisition of an additional $584 million in Bitcoin, increasing its holdings to 506,137 BTC. The funds for this latest purchase came from the sale of 1.97 million common stock shares, along with the broader $21 billion STRK perpetual preferred stock issuance program. These expanded fundraising options have improved the company’s chances of reaching its ambitious $42 billion Bitcoin acquisition target.While this news appears positive for Bitcoin’s price in the short term, if the US Federal Reserve implements expansionist measures, corporate earnings will likely accelerate, making stocks relatively cheaper. Likewise, a reduced risk of a full-scale global tariff war benefits the stock market and lowers risks in the artificial intelligence and commercial real estate sectors.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesSource: DexyyDxCritics argue that Strategy has been the primary factor supporting Bitcoin’s $80,000 level, posing a risk of price corrections if the company fails to raise additional funds or pauses its stock issuance program for any reason. However, this view overlooks the fact that Bitcoin spot exchange-traded funds (ETFs) saw $786 million in net inflows between March 14 and March 21.In essence, Bitcoin is well-positioned to recapture the $92,000 level, although it remains heavily dependent on overall macroeconomic conditions. Regardless of gold’s performance, investors view Bitcoin as a risk-on asset, favoring a higher correlation with the stock market, at least in the short term.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
What to expect at Paul Atkins’ SEC confirmation hearing
Former US Securities and Exchange Commission (SEC) member Paul Atkins is scheduled to appear before lawmakers in the Senate Banking Committee on March 27 as part of the Trump administration’s efforts to get the President’s picks into high-level government positions.Since Donald Trump took office on Jan. 20, the SEC, under the leadership of acting chair Mark Uyeda, has dropped several investigations and enforcement actions against major crypto firms, many of which had been in court for months or years. Many analysts see the SEC’s recent actions as the administration acting on its campaign promises to the crypto industry, some of whom donated directly to the then-presidential candidate or his inauguration fund after the Nov. 5 election.The commission’s actions — which include claiming memecoins aren’t securities — also stand in stark contrast to its position under former chair Gary Gensler, leading many to speculate that the SEC under Trump will lead to a booming US crypto industry essentially free of regulatory scrutiny. Atkins, whom Trump picked in December 2024 and officially nominated after taking office, received support from industry players at Coinbase and Ripple, both of which had ongoing enforcement actions brought by the SEC. The cases have since been dropped.Given the SEC’s seeming about-face on crypto enforcement and Trump’s potential conflicts of interest with the industry — with ties to the crypto firm World Liberty Financial and the launch of his own memecoin — some lawmakers are likely to question Atkins’ views on digital assets at the confirmation hearing. If confirmed by the Senate, Atkins could return to a soon-to-be entirely Republican-controlled SEC, with Democratic Commissioner Caroline Crenshaw expected to leave by 2026.It’s unclear if Atkins will have the votes to pass a confirmation hearing in the banking committee or a full floor vote in the Senate. Republicans hold a 53-seat majority in the chamber with only 51 votes required to confirm a nominee, and — with the exception of former Representative Matt Gaetz for US Attorney General — have not suggested that they intend to oppose any of Trump’s picks for crucial government positions for any reason.Democratic opposition to Atkins’ nominationMassachusetts Senator Elizabeth Warren, the top Democrat on the banking committee who has often equated crypto with drug trafficking and illicit actions, said in a March 23 letter to Atkins that she had concerns about his potential role at the SEC after his consulting firm, Patomak Global Partners, was an adviser to defunct crypto exchange FTX. He was also an adviser to the advocacy group Chamber of Digital Commerce. “Your deep involvement with FTX and other high-paying crypto clients raises questions about your approach to crypto regulation — and concerns about the extent of your knowledge of FTX’s illegal activities,” said Sen. Warren, adding: “Your financial ties to the industries you will soon regulate raise serious concerns about your ability to avoid conflicts of interest as a regulator.”Sen. Warren suggested that some members of the Senate would likely question Trump’s pick on the SEC recently dropping enforcement cases against crypto firms, reports that the US President’s family had held talks with Binance about a stake in the company as well as a pardon for former CEO Changpeng Zhao, how he intends to apply securities laws to digital assets if confirmed, and the commission’s recent opinion that memecoins were not securities. She hinted that Atkins may have also communicated with Republican SEC Commissioners Uyeda and Hester Peirce after his nomination.Related: SEC is waiting for a chair before setting crypto agenda — Hester PeirceAhead of his hearing, Atkins has already met with Republican lawmakers on the committee, including Wyoming Senator Cynthia Lummis. Cointelegraph contacted Sen. Lummis’ office for comment on the SEC commissioner’s nomination but did not receive a response at the time of publication.If his nomination moves through the Banking Committee and the Senate, Atkins would likely be confirmed to a term ending in June 2031, taking over as chair from Uyeda. In addition to the commission dropping investigations and enforcement actions, the SEC acting chair has proposed abandoning rules requiring crypto firms to register with the agency.Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22
Price analysis 3/24: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK
Bitcoin (BTC) rose 4.25% last week to close above $86,000, and the bulls extended the recovery above $88,700 on March 24. 10x Research founder Markus Thielen said in a March 23 report that Bitcoin’s reversal indicators had turned positive, suggesting a “renewed uptrend.”Buyers seem to be returning to the markets. According to SoSoValue data, US Spot Bitcoin exchange-traded funds (ETFs) witnessed net inflows of $744.4 million last week after recording five consecutive weeks of outflows. However, Ether ETFs could not replicate a similar performance as they witnessed a fourth successive week of net outflows.Daily cryptocurrency market performance. Source: Coin360Analysts are divided about the near-term price action for Bitcoin. Select analysts believe Bitcoin could run into significant resistance near $90,000, starting a pullback toward $80,000. In contrast, BitMEX co-founder and chief investment officer of Maelstrom, Arthur Hayes, said in a post on X that Bitcoin will rally to $110,000 before it drops to $76,500.Could Bitcoin bulls maintain the momentum and push the price above $90,000? Will the altcoins follow Bitcoin higher? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index (SPX) has risen to the 20-day exponential moving average (5,742), where the bears are expected to step in. SPX daily chart. Source: Cointelegraph/TradingViewIf the price turns down from the 20-day EMA, the bears will attempt to drag the index below 5,670. If they succeed, the index may retest the critical support zone between 5,600 and 5,500.On the other hand, a close above the 20-day EMA will be the first indication that the correction may be ending. The index will then try to rise toward the 50-day simple moving average (5,913).US Dollar Index price analysisThe US Dollar Index (DXY) rebounded off the 103.37 level on March 19, indicating that the bulls are trying to form a floor.DXY daily chart. Source: Cointelegraph/TradingViewThe index could reach the 20-day EMA (104.59), which is an important level to watch out for. If the index turns down sharply from the 20-day EMA, the bears will again try to sink the price below 103.37. If they can pull it off, the index may collapse to 102 and eventually to 101.Contrarily, a break and close above the 20-day EMA suggests the bears are losing their grip. The index could climb to the breakdown level of 105.42, which is likely to act as a formidable barrier.Bitcoin price analysisBitcoin broke above the 20-day EMA ($85,572) on March 23, suggesting the start of a strong recovery.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA is flattening out, and the RSI has risen into positive territory, signaling a minor advantage to the bulls. The relief rally is expected to face stiff resistance at the 50-day SMA ($90,290). If the price turns down from the 50-day SMA but finds support at the 20-day EMA, it will indicate a positive sentiment. That increases the possibility of a rally to $95,000 and then to $100,000.Conversely, if the price turns down from the 50-day SMA and breaks below the 20-day EMA, it will suggest that the bears remain active at higher levels. A drop below $83,000 could sink the BTC/USDT pair to $80,000.Ether price analysisEther (ETH) bulls are again attempting to drive the price above the 20-day EMA ($2,057) and the breakdown level of $2,111.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf they manage to do that, it will signal that the markets have rejected the breakdown below $2,111. The ETH/USDT pair could rally to the 50-day SMA ($2,356) and subsequently to $2,550.Time is running out of the bears. If they want to retain the advantage, they will have to defend the $2,111 level and swiftly pull the price below $1,750. That may resume the downtrend toward the next support at $1,550.XRP price analysisXRP (XRP) turned up from the 20-day EMA ($2.38) on March 23, signaling that the bulls are using the dips to buy.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to push the price above $2.59. If they manage to do that, the XRP/USDT pair could climb to the resistance line, where sellers are expected to mount a strong defense. If the price turns down from the resistance line but rebounds off the 20-day EMA, it will indicate a positive sentiment. That improves the prospects of a break above the resistance line. The pair may then rally to $3.Sellers will have to tug the price below $2.20 to seize control. That could clear the path for a retest of the vital support at $2.BNB price analysisBNB (BNB) has bounced off the moving averages, indicating a change in sentiment from selling on rallies to buying on dips.BNB/USDT daily chart. Source: Cointelegraph/TradingViewIf the price rises and breaks above $644, it will indicate the resumption of the recovery. The BNB/USDT pair could ascend to $686 and above it to the crucial resistance at $745. The 20-day EMA ($613) is the strong support to watch out for on the downside. A break and close below the 20-day EMA could weaken the bullish momentum. The pair may slide to the 38.2% Fibonacci retracement level of $591 and then to the 50% retracement level of $575.Solana price analysisSolana (SOL) broke above the 20-day EMA ($135) on March 24, signaling that the bulls are attempting a comeback.SOL/USDT daily chart. Source: Cointelegraph/TradingViewIf the price maintains above the 20-day EMA, the SOL/USDT pair could rise to the 50-day SMA ($158). Sellers will try to stall the rally at the 50-day SMA, but if the bulls overcome the obstacle, the pair may surge toward $180. That will bring the large $110 to $260 range into play.Contrarily, if the price turns down from the current level or the 50-day SMA, it will suggest that the bears remain sellers on rallies. The bears will have to yank the price below the $120 to $110 support zone to start the next leg of the downtrend. Related: How long will Bitcoin’s price consolidation last?Dogecoin price analysisDogecoin (DOGE) has risen above the 20-day EMA ($0.18), indicating that the bulls have kept up the pressure.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price closes above the 20-day EMA, the DOGE/USDT pair could climb to the 50-day SMA ($0.21) and later to $0.24. Sellers are expected to defend the level, but if the bulls prevail, the pair could soar to $0.29.Contrarily, if the price turns down from the 20-day EMA and breaks below $0.16, it will signal that bears remain active at higher levels. The pair may then slump to the critical support at $0.14.Cardano price analysisCardano (ADA) has been trading between the moving averages and the uptrend line for the past few days.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe failure of the bears to sink the price to the uptrend line suggests a lack of selling at lower levels. Buyers will try to strengthen their position by pushing the price above the moving averages. If they do that, the ADA/USDT pair could rise to $0.84 and later to $1.02.This positive view will be invalidated in the near term if the price turns down from the moving averages and breaks below the uptrend line. That could sink the pair to $0.58 and eventually to $0.50.Chainlink price analysisChainlink (LINK) has broken out of the 20-day EMA ($14.60) on March 24, indicating that the downtrend could be ending.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe LINK/USDT pair could rise to the 50-day SMA ($16.34), which could again act as a stiff resistance. If the price turns down from the 50-day SMA, the pair is likely to find support at the 20-day EMA. If the price rebounds off the 20-day EMA, the likelihood of a rally to $19.25 increases.If bears want to prevent the upside, they will have to swiftly pull the price below $13.82. That may sink the pair to the channel’s support line near $12.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Tabit offers USD insurance policies backed by Bitcoin regulatory capital
Barbados-based insurer Tabit has raised $40 million in Bitcoin for its insurance facility, in a move the company said would bolster its balance sheet and allow the insurance sector to capitalize on digital assets. Tabit’s Bitcoin (BTC) regulatory capital will be used to back traditional insurance policies, which are all denominated in US dollars, the company disclosed in a March 24 announcement. Tabit claims to be the first property and casualty insurer to hold its entire regulatory reserve in BTC. The company was founded by former executives of Bittrex, a Liechtenstein-based cryptocurrency exchange that was shuttered in 2023.“This solution offers a regulated dollar return, which we’re excited to earn on an alternative asset class such as Bitcoin,” said William Shihara, Tabit’s co-founder. Tabit co-founder and CEO Stephen Stonberg said Bitcoin allows the insurance sector to “Access a largely new and untapped source of insurance capital: digital assets.” “Bitcoin means Tabit has access to a whole new pool of capital,” a company spokesperson told Cointelegraph. “BTC has limited regulated use cases where a hodler can earn a return, but insurance is one of them.”Tabit launched in January as a Bitcoin-backed insurer, receiving a Class 2 license from Barbados’ Financial Services Commission. VC Roundup: Bitcoin RWA, BNB incubator, Web3 gaming secure fundingBlockchain and the insurance sectorSo far, most of the discussion around cryptocurrency and insurance has been tied to helping users recover financial losses and using blockchain technology to improve the industry’s transparency. According to a 2023 report by Boston Consulting Group, the blockchain-insurance nexus could become a $37 billion opportunity by 2030.Behind the scenes, there’s also a growing industry for matching insurance brokers and underwriters with digital asset capital providers. One such company is Nayms, an onchain insurance marketplace that facilitates the connection between capital providers and brokers via segregated accounts.Ensuro is another such provider, which curates insurance market opportunities and provides underwriting capacity through the use of stablecoins. According to its website, Ensuro has over 12,000 active policies, with APYs up to 22%. Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips