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Apple’s Brand Worth a Whopping $200 Billion as Facebook’s Value Falters

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By CCN: Forbes’ 2019 list of the world’s most valuable brands is out. For the ninth straight year, Apple takes the cake. The tech behemoth’s brand is currently worth $205.5 billion – a 12% increase from last year. All but two of the top 10 brands saw their value increase since 2018. Facebook lost 6% over the year. Worth close to $95 billion last year, Facebook’s brand value has dropped to less than $89 billion.

Apple tops Forbes’ list of most valuable worldwide brands while Facebook slips. | Source: Forbes

Apple’s Secret to Success

Although iPhone sales are on the decline this year (17% less than the year-ago period), Apple’s services revenue is hitting new highs. The company brought in $10.9 billion of revenue from services in Q1 2019 – a record high and a 19% jump over last year. Morgan Stanley expects this figure to grow to more than $100 billion per year by 2023.

Quarterly revenue from Apple services is beginning to go parabolic. | Source: BBC/Apple

Apple has created a cult-like audience of supporters who will seemingly follow the brand to the ends of the earth. The company consists of an ever-growing ecosystem of Apple products and services ranging from standard hardware (MacBooks and iPhones) to wearables (Apple Watch) to services (Apple Pay, iTunes, etc.). Plus, fans love the interconnectivity of each piece of the ecosystem.

Even though Apple faces stiff competition from cheaper phone alternatives like Huawei, it’s successfully migrating users to other, more profitable sectors of its ecosystem. The launch of the Apple TV+ streaming service this fall will continue to push along this migration.

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Facebook May Be Down, but It’s Not Out

Throughout this year and last, Facebook has been at the forefront of news outlets but not for the reasons the company would like. Since Facebook’s Cambridge Analytica scandal, report upon report has surfaced, exposing the social media company for its lack of concern for users’ privacy, platform censorship, and consistently poor security practices.

The number of Facebook users is dropping, and the once premiere workplace is having trouble hiring new employees. It’s no wonder that the brand’s value is following suit.

The number of Facebook users is declining, but Instagram’s count is on the rise. Will it be enough to save Facebook’s brand? | Source: Edison Research

Facebook’s brand outlook is rather grim at this point, but that doesn’t mean the company can’t turn it around. Mark Zuckerberg recently announced that his team is shifting away from public communication channels like the News Feed to focus more on private user communication. Additionally, Facebook is set to launch a new cryptocurrency in the upcoming months, so a trustworthy brand, data privacy, and security are paramount.

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If Facebook can successfully prove that it has a renewed seriousness about security and privacy, it could pull the brand’s value out of freefall. With the company’s abysmal track record, though, we won’t hold our breath.

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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