In a last-minute decision, the Swiss government and authorities opted to sell the crisis-stricken Credit Suisse (CS) rather than rehabilitate it. UBS President, Colm Kelleher, announced the sale of CS to its larger Swiss competitor on the memorable evening of March 19, 2023, stating that there were no longer any alternatives.However, just hours before, alternatives […]
The cryptoverse experienced a rollercoaster ride on Tuesday, with Bitcoin prices soaring and plummeting due to a fabricated news flash from the Securities and Exchange Commission (SEC). The SEC’s official account on X, formerly known as Twitter, falsely claimed the approval of spot Bitcoin exchange-traded funds (ETFs), causing Bitcoin to surge 3% towards a 20-month […]
The U.S. Securities and Exchange Commission (SEC) was recently embroiled in a cybersecurity breach and subsequent trust crisis. On January 9, hackers infiltrated the SEC’s social media account, falsely announcing the approval of spot Bitcoin exchange-traded funds (ETFs).The SEC quickly clarified that it had not endorsed any Bitcoin ETF applications, contradicting the misleading announcement made […]
United States Senators J.D. Vance and Thom Tillis have urged the United States Securities and Exchange Commission (SEC) to submit a report to Congress regarding the Jan. 9 breach of the SEC’s X account. The senators expressed their concerns about the incident in a letter to SEC Chair Gary Gensler, stating that it raised serious […]
The Basler Kantonalbank (BKB) has issued a new bond for the canton of Basel-Stadt. The unique aspect of this bond is that it can be purchased with digital central bank money, as announced by the canton on Wednesday.However, this can only be done through banks, as the bond is part of the pilot project “Helvetia […]
The once-prominent crypto lender, Celsius, continues to navigate its complex bankruptcy proceedings. Recent developments indicate that account holders who withdrew more than $100,000 within the 90 days leading up to the company’s bankruptcy declaration in July 2022 may be required to return a portion of those funds. This is referred to as “withdrawal preference exposure”.Eligible […]
In a series of recent executive appointments, Claudia Cordioli has been named the new CFO of Zurich Insurance, taking over from George Quinn who is stepping down after a decade in the role. Cordioli’s appointment will take effect in March 2024.Meanwhile, Deutsche Bank has announced Mario Schlösser as the new Head Corporate Coverage Switzerland, effective […]
The crypto market recently experienced a significant event when the Securities and Exchange Commission’s (SEC) account was hacked. This led to a fake tweet about the approval of a spot Bitcoin ETF, causing a market whiplash that resulted in a $56 million liquidation within an hour.Meanwhile, Ethereum Classic’s price, which was following a micro bearish […]
Bankrupt crypto lender Celsius may require its creditors who withdrew large sums from the platform before its bankruptcy declaration to return part of those funds or face legal action. On January 9, the company’s bankruptcy administrators filed an intent to notify creditors that account holders who withdrew more than $100,000 in the 90 days before […]
Fox Reporter Eleanor Terrett has brought to light a significant procedural detail of the U.S. Securities and Exchange Commission (SEC) that could impact the approval of the much-anticipated spot Bitcoin Exchange-Traded Fund (ETF). Terrett revealed on January 9th that while there is no scheduled commission vote on the Bitcoin ETF, each of the five SEC […]
