Insurance Coverage Secured for Blockchain-Based Risks

Team Rizzo Secures $25 Million Insurance for Blockchain Operations

Team Rizzo, known for its ventures in machine learning and staking validator services on the cryptocurrency-driven AI platform Bittensor, has arranged $25 million in insurance protection to safeguard against hacker attacks. This coverage is facilitated through a blockchain-focused approach.

Native, a broker and underwriter specializing in digital assets, played a pivotal role in this transaction. Operating out of London, Native utilized its syndicate and capital pool within Nexus Mutual, a decentralized insurance platform that began supporting Native in the previous year.

The insurance ensures security against potential threats to the Bittensor network's proof of stake (PoS) operations. Specifically, it covers scenarios where smart-contract vulnerabilities could result in the loss of Bittensor tokens, also known as TAO.