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Meanwhile, last week they announced a $40 million salary increase as Framework Ventures and Fulgur Ventures co-led.
However, pay increases are a little more important than initially reported.
“This is the biggest stock investment a venture has ever made,” Framework’s Michael Anderson said exclusively.
If you’re not familiar, it’s a Bitcoin life insurance company worth $190 million after the Series A announcement. Ah, here’s an interesting factoid. They only have 10 employees.
Meanwhile, CEO Zachary Townsend explained.
I asked Townsend if the company would consider creating a US-based subsidiary, as its current subsidiary is fully licensed and regulated by Bermuda. Through that license, I need to be careful. During that time, it can provide its services in a variety of countries, including the US, the UK and Canada.
Townsend explained that it is on the cards in the future to build a “land life insurance company that interacts with offshore companies to provide Bitcoin products to the US people,” but to achieve that, there’s more than a friendly regulatory environment.
“Insurance is regulated by state, and I think it is clearly more of a non-crypto-friendly state and certain things we do.
Meanwhile, Townsend explained that he plans to raise money to spend $40 million.
“Expansion globally is also what we offer and what our customers are interested in,” Townsend explained. “Someday this year, we’re going to launch something that looks like a Bitcoin pension. So… you put Bitcoin in your account. In many countries, there’s a yield or rate of return in many countries that return the tax benefits of your account.”
Meanwhile, the lifetime product is “unlocking a massive lock in terms of people who have (and) lower (and) more insurance than Bitcoin.
