Major financial firms such as JPMorgan and HSBC are increasing their involvement in blockchain technology, signaling a growing acceptance of distributed ledger technology (DLT) in traditional finance. In November, both JPMorgan and HSBC made significant moves in the blockchain space.JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain on November 3, demonstrating […]
Major applicants for a spot Bitcoin exchange-traded fund (ETF) in the United States are amending their filings to comply with the cash redemption model demanded by securities regulators. Investment manager BlackRock and Cathie Wood’s ARK Invest have updated their S-1 registration statements for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).The […]
The Swiss Financial Market Supervisory Authority (FINMA) has released its report on the Credit Suisse crisis, calling for more sanctioning powers, stricter regulatory standards, and the ability to impose additional capital requirements.In its report on the collapse of Credit Suisse in March 2023, FINMA assesses the events at the bank and the strategic errors that […]
The world’s largest asset manager, BlackRock, has filed an updated proposal for a spot Bitcoin exchange-traded fund (ETF) in the hopes of securing approval from the Securities and Exchange Commission (SEC). The revised proposal includes cash creation and redemption mechanisms favored by the SEC, addressing concerns about investor safety and market manipulation.BlackRock is among several […]
BlackRock, the world’s largest asset manager, has filed a revised proposal for a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The update includes the introduction of cash creation and redemption mechanisms, which aligns with the SEC’s preference for safer and more accessible options for investors. This adjustment addresses regulatory […]
The Commodity Futures Trading Commission (CFTC) has reached a settlement with CZ Zhao, the former CEO of Binance, and Binance itself, following a legal action against the cryptocurrency exchange. The US District Court for the Northern District of Illinois has authorized the settlement, which requires CZ Zhao to pay $150 million and Binance to pay […]
BlackRock, the asset management company, has submitted a new amendment to the S-1 filing for its spot Bitcoin ETF, the iShares Bitcoin Trust. The latest filing includes several changes, including the addition of a market ticker, IBIT, indicating that the fund intends to trade on the Nasdaq under that label. Previous filings used a blank […]
Derivatives specialist Leonteq has acquired a 10% stake in Swiss stock exchange BX Swiss, paying a “single-digit million amount” for the shares. The investment will allow BX Swiss to benefit from Leonteq’s investment solutions ecosystem, facilitating collaboration with actors in the Swiss financial sector. In return, Leonteq will gain access to the ecosystem of Börse […]
A recent report has shed light on the handling of the Credit Suisse (CS) crisis by the Swiss Financial Market Supervisory Authority (FINMA). The report, titled “Lessons Learned from the CS Crisis,” spans 89 pages and aims to absolve FINMA of any blame in the downfall of the country’s second-largest financial institution.However, the report’s claims […]
Cevian Capital, a well-known Swedish investment firm, has become a major shareholder in UBS, one of the largest banks in Switzerland. The firm has invested 1.2 billion euros in UBS stocks, acquiring approximately 1.3 percent of the bank’s outstanding capital. The investment will be held by Cevian Capital’s various funds.Cevian Capital has high hopes for […]
