A court in the British Virgin Islands has frozen $1 billion in assets belonging to the founders of collapsed crypto hedge fund, Three Arrows Capital (3AC). The court order prohibits co-founders Su Zhu and Kyle Davies, as well as Davies’ wife, from transferring or selling assets worth over $1 billion.According to liquidators Teneo, 3AC owes […]
Finpact, a spin-off of the University of St. Gallen, has been granted a license as an asset manager by the financial regulator. The company specializes in digital wealth management for customers aged 50 and above, catering to capital payouts, inheritances, and savings. The license from the Swiss Financial Market Supervisory Authority (Finma) is seen as […]
Revolut, a digital bank, has announced that it will suspend some of its cryptocurrency services for its business clients in the United Kingdom. This decision comes as the company prepares for stricter regulations from the Financial Conduct Authority (FCA).Starting from January 3, 2024, Revolut will pause the ability of its UK customers to buy cryptocurrency […]
A British Virgin Islands court has issued a freezing order on approximately $1 billion worth of assets belonging to the founders of Three Arrows Capital (3AC), a cryptocurrency hedge fund that faced a significant collapse in 2022 due to a series of unsuccessful investments. The court’s directive restrains co-founders Su Zhu and Kyle Davies, along […]
Worldcoin, a cryptocurrency company, has reportedly disabled its offline orb verification function in India, Brazil, and France. The company had introduced the Orb, a five-pound chromatic helmet that scans individuals’ eyeballs to verify their identities, as a means of onboarding people in regions where traditional identification is not always available.Worldcoin incentivized the offline onboarding process […]
The powerful rating agency Moody’s has downgraded the credit rating for Bank Julius Bär following the Signa debacle. The reasons cited for the downgrade are the group’s high risk appetite and risk concentration.Moody’s, the American rating agency, has lowered the credit rating for Julius Bär. The private bank’s credit rating has been downgraded to “A3” […]
Nach seinem Rücktritt von der Credit Suisse bleibt der ehemalige Präsident António Horta-Osório in der Welt der Hochfinanz aktiv. Er hat sich mit der US-Investmentbank Warburg Pincus zusammengetan, um ein Gebot von mehr als 6 Milliarden Euro für die portugiesischen Telekommunikationsaktivitäten von Altice abzugeben. Horta-Osório war zuvor bei der britischen Bankengruppe Lloyds Banking tätig und […]
The founders of Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) have had over a billion dollars of their assets frozen by a court in the British Virgin Islands. The court has banned co-founders Su Zhu and Kyle Davies from transferring or selling assets worth up to $1.14 billion. This freezing order also affects assets […]
The CEO of UBS, Sergio Ermotti, believes that the new UBS is currently misunderstood but ultimately a positive force. He is a fan of science fiction and is in top rhetorical form as the year comes to an end.Ermotti is unwavering in his belief that the Swiss financial market needs an even larger bank in […]
The Migros Bank, a Swiss institution with a large customer base, is making efforts to attract customers and make saving more attractive. Starting from January 1, 2024, the bank will increase the interest rate on its Bonus Savings Account to 1.4 percent. Additionally, the interest rates on Youth Savings Accounts and the Free25 Personal Account […]
