Julius Bär, a Swiss private bank, has experienced a downgrade in its rating due to hundreds of millions of loans to Benko. This downgrade directly impacts the bank’s profitability as it will have to pay more for borrowing money.The question of who is to blame for this situation has gained momentum. Bloomberg has pointed out […]
A Zurich court has handed down a significant verdict in one of the city’s largest financial fraud cases. Financier Bismark Badilla has been sentenced to six years in prison for “systematic fraud” and multiple counts of forgery. The case involves around 70 victims, including prominent law firms and a former top compliance officer from Credit […]
The Swiss private bank Julius Bär is under investigation by the Swiss Financial Market Supervisory Authority (FINMA) for inadequate risk control structures that contributed to the bank’s involvement with bankrupt real estate mogul René Benko. The investigation was triggered by concerns that the business and control functions at Julius Bär were not sufficiently separated. The […]
Mastercard has announced its support for Fideum Group’s vision to merge cryptocurrency with traditional finance. Fideum aims to leverage Mastercard’s global network to expedite the integration of digital assets into the financial industry.This collaboration between Mastercard and Fideum signifies a significant step towards bridging the gap between the crypto world and traditional financial systems. By […]
Coinbase, one of the largest cryptocurrency exchanges, has obtained virtual asset service provider (VASP) status in France, allowing it to expand its operations in Europe. The company has registered with France’s Autorité des marchés financiers (AMF) and can now offer retail and institutional services, including crypto custody, crypto-to-crypto trading, and buying and selling crypto for […]
Circle, the US company behind the USDC stablecoin, has expanded its operations into the European market by registering as a digital asset service provider (DASP) in France. To begin its operations in France, Circle needs to obtain approval as a payment services provider (PSP) or register as an agent of a PSP. The company has […]
Circle, the US company behind the USDC stablecoin, has expanded its operations into the European market by registering as a digital asset service provider (DASP) in France. To begin its operations in France, Circle needs to obtain approval as a payment services provider (PSP) or register as an agent of a PSP. The company has […]
In a significant development, a court in the British Virgin Islands has issued a worldwide asset freeze worth $1.14 billion on the co-founders of cryptocurrency hedge fund Three Arrows Capital (3AC). The freeze order, part of the liquidators’ efforts to recover the fund’s assets and provide returns to creditors, affects co-founders Su Zhu and Kyle […]
A British Virgin Islands court has issued a freeze on assets belonging to the founders of Three Arrows Capital (3AC), a major crypto firm. The court order, which follows a similar move by the Singapore Court, effectively locks out over $1.1 billion of assets from 3AC co-founders Su Zhu and Kyle Davies, as well as […]
A British Virgin Islands court has issued a freeze on assets belonging to the founders of Three Arrows Capital (3AC), a major crypto firm. The court order, which follows a similar move by the Singapore Court, effectively locks out over $1.1 billion of assets from 3AC co-founders Su Zhu and Kyle Davies, as well as […]
