NYDIG, a subsidiary of alternative asset manager Stone Ridge that specializes in Bitcoin-related technology for the financial services business, has raised $100 million of additional capital from strategic partners including Starr Insurance and Liberty Mutual Insurance.
These property and casualty insurers join NYDIG's existing life insurance and annuity-focused investors New York Life and MassMutual, NYDIG said in a release.
NYDIG said Mike Sapnar, CEO of reinsurer TransRe, will join the company as global head of insurance solutions to focus on accelerating Bitcoin-driven innovation in the property and casualty industry.
The company also said that Matt Carey, NYDIG’s head of insurance solutions, will focus on Bitcoin-powered solutions for U.S.-based life insurance and annuity providers. Prior to joining NYDIG, Carey was co-founder and CEO of Blueprint Income, the largest online annuity marketplace in the U.S., which MassMutual recently acquired from Stone Ridge.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
