Digital-asset insurance broker Native has arranged $25 million of blockchain-based insurance cover against hacks for Team Rizzo, an operator of machine-learning businesses and staking validator services on Bittensor, an AI network powered by cryptocurrency. Native acted as a broker and underwriter using its own syndicate and capital pool on Nexus Mutual, a decentralized insurance alternative. The cover protects against smart-contract hacks that could lead to the loss of Bittensor tokens. Native was able to arrange the cover in just four weeks, which is significantly faster than traditional insurance companies. This is the first time that Bittensor has been underwritten, and it will be followed by cover for bitcoin staking platform Babylon in the coming weeks.



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