Kraken’s Firelight Cover Caps at $100K per Depositor Address

The real story here is structural, not promotional: access route determines recovery mechanics. Buying through Kraken's Firelight bundles convenience with a fixed ceiling and presumably a smoother claims path, while direct Nexus Mutual purchases preserve flexibility but shift claims work onto the buyer. That trade-off matters most for larger depositors, for whom the per-address cap is the binding constraint, and for anyone who assumes exchange-mediated cover behaves like a full indemnity. Whether the cap pushes size toward direct purchase, and how claims actually get handled under each route, is worth watching.