Digital Currency Group (DCG), a venture capital firm, has successfully made a $700 million payment to its subsidiary, Genesis Global Capital (GGC). This payment settles short-term loans from the now-insolvent crypto lending platform. The settlement comes four months after Genesis initiated a lawsuit against DCG and an affiliate over the repayment of overdue loans.DCG announced […]
Marathon Digital Holdings has reported its highest monthly Bitcoin mining output ever, successfully mining 1,853 BTC in December. Over the course of the last year, the company mined 12,852 BTC, valued at over $563.4 million, which is more than triple its production of 4,144 BTC in 2022. The Bitcoin miner also increased its average operational […]
As institutional capital is expected to flow into the Bitcoin ecosystem through exchange-traded funds (ETFs), companies and executives are reshaping their business strategies for 2024. Bitcoin mining company CleanSpark has revealed plans for an in-house trading desk, which will manage and trade its large Bitcoin holdings internally, rather than relying on external brokers or financial […]
Cryptocurrency exchange heavyweight, Coinbase, has unveiled plans to acquire a Markets in Financial Instruments Directive (MiFID)-licensed entity based in Cyprus. This strategic acquisition is aimed at expanding Coinbase’s derivatives offerings across the European Union.The acquisition, which is still subject to regulatory approval, is expected to significantly boost Coinbase’s market presence by 2024. The company is […]
Swiss banking giant UBS is making significant moves to strengthen its position in the Middle East. The bank has appointed a new management team for its investment banking division in the region, signaling its ambitions for expansion. Additionally, UBS has hired a veteran from Deutsche Bank for its wealth management division, further indicating its commitment […]
Swiss banking giant UBS is making significant moves to strengthen its position in the Middle East. The bank has appointed a new management team for its investment banking division in the region, signaling its ambitions for expansion. Additionally, UBS has hired a veteran from Deutsche Bank for its wealth management division, further indicating its commitment […]
The Swiss private banking sector is currently engaged in a fierce competition to attract top talent from Credit Suisse (CS) and UBS. In order to entice experienced bankers, these banks are offering high salary packages. Lombard Odier, LGT, Julius Bär, and EFG International are among the domestic institutions actively recruiting from CS and UBS. Even […]
A recent survey conducted among employees of a major Swiss bank suggests that nearly half of the combined workforce of UBS and Credit Suisse are concerned about their job security. According to the survey conducted by “Efinancialcareers” at the end of 2023, 43.2% of UBS bankers expressed fear of losing their jobs, making them second […]
The Swiss bank UBS is making a significant move to strengthen its market position in the Middle East. It has appointed a new leadership team for its investment banking division in the region. This move is seen as a clear indication of UBS’s ambitions in the Middle East.According to a report from Bloomberg, UBS has […]
The entire team at finews.ch, finews.com, finewsticino.ch, and finews.asia would like to express their gratitude to all readers for their immense interest and trust in this memorable year, and wish you an exciting 2024 filled with encouraging surprises.Undoubtedly, 2023 will be remembered as an eventful year from a banking perspective. What few could have imagined […]
