UBS Group doubles offer and acquires Credit Suisse for $2B
Swiss authorities agreed to change the country’s regulations to bypass a shareholder vote and announce the deal over the weekend. Go to Source Powered by WPeMatico
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Credit Suisse rescue plan may include nationalization, bondholder losses
A bank rescue plan for Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse Group AG. Go to Source Powered by WPeMatico
Peter Schiff blames ‘too much gov’t regulation’ for worsening financial crisis
Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. Go to Source Powered by WPeMatico
Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil
A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan … Read more
UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal
After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the … Read more
Former Coinbase CTO makes $2M bet on Bitcoin’s performance
Balaji Srinivasan has predicted Bitcoin will reach $1 million within 90 days as a consequence of hyperinflation in the United States. Go to Source Powered by WPeMatico
More 186 US banks well-positioned for collapse, SVB analysis reveals
Rising interest rates, which brought down the U.S. banking system’s market value of assets by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threatens their stability. Go to Source Powered by WPeMatico
Congress announces March 29 hearing into failures of SVB and Signature Bank
According to the House Financial Services Committee, it expects to hold multiple hearings on “getting to the bottom” of the banks’ failures. Go to Source Powered by WPeMatico
DeFi sees its biggest hack in 2023 as Euler loses $197M: Finance Redefined
DeFi suffered its biggest attack this year with a flash loan attack on crypto lending platform Euler Finance and the hackers are belived to be same that exploited a BSC based protocol in February. Go to Source Powered by WPeMatico
Crypto market cap reclaims $1T, and derivatives point to further upside
Bitcoin’s performance has outpaced Warren Buffett’s Berkshire Hathaway over the past six months as crypto markets appear to have turned a corner. Go to Source Powered by WPeMatico
