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Justin Sun Tweets About BitTorrent’s Upcoming Announcement: BTT Surges 20%

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TRON’s Justin Sun, who’s also the owner of BitTorrent, has once again proven the impact his influence has over the price of BitTorrent Token (BTT). Most recently, Sun tweeted that there is a big announcement coming up and the price of BTT surged with over 16 percent on the day. Interestingly enough, he didn’t even hint at what the announcement is.

Justin Sun on TRON and BitTorrent: “Something Huge” is Going On

Justin Sun is quite famous for his activity on crypto Twitter, constantly updating his followers about what’s going and what’s about to happen to his projects.

Today, however, he did something quite different – he announced that there is an announcement coming, without even hinting at what’s it about.

What is more, he also said that there is a 70 percent chance of whatever it is that he has in mind to take place, meaning that it’s not even certain.

Regardless of the fact that, essentially, he didn’t reveal a thing, the price of BitTorrent Token (BTT), surged following the tweet. At one point of the day, the price was up more than 16 percent, which shows the influence Sun and his popularity has on it.

But Is This Right?

It has become somewhat customary for executives of cryptocurrency and blockchain-based projects to hype their communities with information, and there’s nothing wrong about that. It’s entirely alright for companies to state positive facts and to disclose developments associated with their work.

However, there’s a fine line between stating positive facts and misleading the community that such developments may or may not take place in the future.

Sun’s latest tweet, for example, doesn’t provide any concise information, but merely says that something “huge” has a 70 percent chance of happening and this immediately reflected on the price of BTT.

Looking at traditional companies, we can see that these sorts of things are very carefully monitored by the regulating authorities such as the US Securities and Exchange Commission. Just last year, Elon Musk got sued for tweeting this intention to take Tesla private and that funding has been secured. The SEC accused Musk of making “false and misleading” statements.

In other words, it’s particularly important to be careful with the way information is being presented to the community in order to avoid speculation and unjustified price surges.

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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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