Meanwhile, a pioneering crypto insurance company has raised $40 million in a Series A funding round.
This investment, led by Framework Ventures and Fulgur Ventures, with participation from Wences Casares, founder of crypto bank Xapo, values Meanwhile at $190 million—nearly doubling its valuation from the previous funding round in 2022.
The company provides life insurance policies that target crypto enthusiasts and include both premiums and payouts in Bitcoin. Zac Townsend, co-founder and CEO of Meanwhile, believes this model attracts individuals looking to protect their families while capitalizing on Bitcoin’s long-term value growth.
The increasing interest in cryptocurrency has led companies like Meanwhile to adapt their financial services to cater to crypto enthusiasts. Despite concerns about Bitcoin’s volatility, Townsend points out that it has historically yielded strong long-term returns, which aligns with strategies to combat inflation linked to fiat currencies. Meanwhile’s recent funding round reflects the growing demand for crypto-based financial options, such as allowing individuals to invest in Bitcoin through retirement accounts and offering life insurance policies in Bitcoin. As the crypto market evolves, companies like Meanwhile are poised to influence the future of financial planning for crypto investors significantly.
Notably, the company generates revenue by lending clients’ Bitcoin to large financial institutions for one to two years, anticipating a 3% return to cover payouts and operational expenses. With new funding, the company plans to expand globally while ensuring regulatory compliance and responding to the increasing demand for crypto-based financial services.
Similarly, Venice, an AI startup backed by Erik Voorhees, aims to decentralize access to generative AI through its VVV token, which allows users to stake for continuous access to its AI API for text, image, and code generation. Venice executed a 50 million VVV token airdrop to celebrate its launch, coinciding with discussions on diversifying global investments beyond US-centric tech-fueled by advancements in Chinese AI.
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