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 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 […]
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 […]
Asset managers WisdomTree and Valkyrie have announced temporary fee waivers for their spot Bitcoin ETF applications, according to Bloomberg ETF analyst James Seyffart. WisdomTree will waive its fees for six months or the first $1 billion of assets, reducing fees from 0.30% to zero during the waiver period. Valkyrie Investments will waive its fees for […]
Caitlin Long, the founder of Custodia Bank, has expressed concern over the trend of spot Bitcoin Exchange Traded Fund (ETF) issuers in the United States reducing their fees to near zero. On January 8, she advised clients who are considering purchasing these regulated products to be wary of these extremely low fees, suggesting that they […]
Steven McClurg, the CIO and co-founder of Valkyrie, has expressed his confidence in the approval of a spot Bitcoin ETF on Wednesday. McClurg has been working diligently on this for the past six weeks and is excited about the potential approval. He is 95% confident that the approval will come after the market closes on […]
BitPay, the world’s foremost Bitcoin and cryptocurrency payment service, has announced an improved payment experience for its crypto customers. The new features are set to be launched this week. BitPay will now support a range of new cryptocurrencies, including Uniswap (UNI), Binance Coin (BNB), Chainlink (LINK), Cronos (CRO), VERSE (VERSE), and Basic Attention Token (BAT), […]
The Depository Trust and Clearing Corporation (DTCC) has officially listed the Spot Bitcoin ETF tickers from investment management firm, VanEck. The firm’s Spot Bitcoin ETF has appeared on the active and pre-launch list of the DTCC and can be identified by the ticker ‘HODL’. This listing positions VanEck as a significant player in the Spot […]
