ether.fi and Nexus Mutual Partner to Provide Largest ETH Slashing Cover
ether.fi, a leading onchain neobank for digital asset management, has partnered with Nexus Mutual to secure the largest-ever ETH slashing cover in the cryptocurrency industry. The coverage protects ether.fi’s validators against up to 15,000 ETH worth of slashing penalties, an amount exceeding all historical losses from ETH slashing combined.
As ether.fi experiences rapid adoption from both retail and institutional audiences, mitigating slashing risk has become a priority. Over the past year, the company has strengthened its infrastructure, risk management, operational security, and real-time defense systems. Since ether.fi operates one of the largest validator sets on Ethereum, slashing represents a real tail risk. By working with Nexus Mutual, ether.fi has secured protection that activates in the most extreme scenarios.
“We’ve always believed the safest protocols will ultimately win. That’s why we’ve invested heavily in audits, operational security, staking architecture, and now the largest insurance program in the industry,” said Mike Silagadze, Founder and CEO of ether.fi. “We are excited to partner with Nexus Mutual to make this a reality.”
Hugh Karp, Founder of Nexus Mutual, added, “We’ve known the ether.fi team since before it was ether.fi, and they’ve been focused on risk from day one. Covering their users for up to 15,000 ETH in slashing penalties is a historic step, and we’re proud they chose Nexus Mutual to take it with them.”
ether.fi manages over $6 billion in assets across its Cash (crypto card), Stake (restaking), and Liquid (liquid restaking derivatives) products. It describes itself as an institutional-grade platform built for consumer adoption. Nexus Mutual, founded in 2019, has covered more than $7 billion against smart contract hacks, slashing, and other digital asset risks, serving individuals and institutions alike.