Swiss asset manager GAM is expected to report another significant loss in 2023, as its new strategy will take time to take effect. Despite successfully fending off a takeover attempt by Liontrust and implementing a rescue plan with new major shareholder Newgame and French investor Xavier Niel, GAM is still facing financial challenges.The company anticipates […]
The UBS has seen a significant increase in its stock price following its acquisition of Credit Suisse. This success can be attributed to the interest of financial investors in the concept of a “Wealth Management Powerhouse.” However, some investors who feel disadvantaged by the sale of Credit Suisse have filed class-action lawsuits in an attempt […]
The Swiss industrial company R&S Group has defied the challenging IPO environment by going public through a Spac transaction. The company, specializing in electrical engineering, experienced a strong start on the Swiss stock exchange, with its shares closing the day with a nearly 13% increase. This marks the first “real” IPO with capital raising on […]
Nasdaq, the largest stock exchange in the US, has decided to repurpose its blockchain technology developments after discontinuing its plans to launch a custodian business for digital assets due to regulatory concerns. Despite this setback, Nasdaq remains focused on expanding its technology services related to tokenized assets.The new strategy for Nasdaq involves using its blockchain […]
DWS, the fund subsidiary of Deutsche Bank, is partnering with Flow Traders, an ETP market maker, and crypto specialist Galaxy to launch a joint venture called Allunity. The Frankfurt-based joint venture aims to promote asset tokenization and introduce a euro-denominated stablecoin in the European market. The collaboration is driven by the increasing focus on digital […]
The UBS has formed a new unit called the “Executive Client Group” consisting of nine bankers who will be responsible for managing the bank’s most important corporate clients worldwide and negotiating directly with company executives. The unit will be led by Ros L’Esperance and will report directly to Rob Karofsky, the head of UBS Investment […]
Deutsche Bank’s asset management arm, DWS, has announced a new partnership with Galaxy Digital and Flow Traders to launch a euro-denominated stablecoin called AllUnity. The stablecoin will be “fully collateralized” and regulated by the German Federal Financial Supervisory Authority (BaFin). The goal of AllUnity is to promote the mass adoption of digital assets and tokenization.AllUnity […]
The United States Securities and Exchange Commission (SEC) has served a lawsuit to HEX founder Richard Schueler, also known as Richard Heart, at his residence in Helsinki, Finland. The SEC alleges that Heart made over $1 billion by selling unregistered securities, including Hex, PulseChain (PLS), and PulseX (PSLX). Additionally, the agency claims that Heart defrauded […]
Terraform Labs co-founder Do Kwon is expected to be extradited to the United States to face criminal charges. He will remain in Montenegrin custody until February, as requested by authorities from the U.S. and South Korea.Kwon, a South Korean national, was arrested in Montenegro in March for using falsified travel documents and was sentenced to […]
Terraform Labs co-founder Do Kwon’s custody in Montenegro has reportedly been extended by two months, according to a spokesperson for the High Court. Kwon, along with Terraform Labs CFO Han Chang-joon, was arrested in March for traveling with forged documents. While Kwon’s four-month sentence is coming to an end, he will not be released as […]
