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Bitcoin

Guarda Wallet and Simplex Launch Zero-Fee Crypto Purchases Promo in Europe

Lisbon, Portugal, April 4th, 2023, Chainwire Guarda Wallet, a non-custodial crypto wallet,…

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Bitcoin

Cerus Markets Launches Revolutionary Platform for Crypto Derivatives Trading

Labuan, Malaysia, April 4th, 2023, Chainwire On 4th April 2023, Cerus Markets…

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Crypto

Sphynx Ink and OpenSea Partner for “Winkles & Flam” Digital Collectibles

Toronto, Canada, 27th March, 2023, Chainwire Winkles & Flam™, the ‘Cosplaying Canadian…

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4 Min Read
Blockchain

Construction Giant XCMG Chooses Conflux for NFTs and Future Global Blockchain Applications

Toronto, Canada, 27th March, 2023, Chainwire ​​XCMG Construction Machinery Co., Ltd. (000425.SZ),…

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Press Release

Virtual Duo Babka and Nushi Honor Game Developers Worldwide at GDC

Los Angeles, United States, 22nd March, 2023, Chainwire GDC 2023 is finally…

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Blockchain

KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum

Ho Chi Minh City, Vietnam, 22nd March, 2023, Chainwire Since launching in…

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The CEO of one of the largest Swiss banks Credit Suisse called the world's first cryptocurrency a speculative asset. Interest in Bitcoin will fade away, the banker said, adding, however, that cryptocurrencies are a challenge anyway. The announcement came shortly after the announcement of Credit Suisse's forced merger with Swiss rival UBS, which market analysts called the largest bank liquidation in the country's history. UBS bought the rival for 3 billion Swiss francs ($3.2 billion). The valuation was less than half of Credit Suisse's market value. On Monday, March 20, the shares of the troubled bank fell by almost 60%. “From what we can determine today, the only reason to buy or sell bitcoin is to make money. That is nothing but speculation and a bubble,” said Tidjane Thiam. The fact that attackers use bitcoin in fraudulent schemes contradicts the definition of cryptocurrency, the banker is sure. The head of Credit Suisse argues that banks have "little or no desire to intervene in a currency that has such money laundering problems." Billionaire investor Warren Buffett said last week that “Bitcoin is in a bubble.” He echoed Bridgewater Associates founder Ray Dalio, who expressed the same sentiment in September. The fallout from the collapse of the crypto-focused Silvergate Bank and two other US banks was not limited to America's financial system but spread to European markets, including sending Credit Suisse shares to record lows and forcing them to borrow nearly $53 billion from the Swiss National Bank to maintain liquidity. Credit Suisse invested in crypto projects. Switzerland's second largest bank partners with Taurus, Fnality, AlgoTrader and FundsDLT. In 2021, Credit Suisse tokenized on Ethereum the shares of Alaïa SA, which owns a chalet and hotel in the Swiss ski resort of Crans-Montana. Since February 2021, Swiss law requires that tokenized securities receive the same legal status as traditional securities. Подробнее на Bits.media: https://bits.media/glava-credit-suisse-tidzhan-tiam-bitkoin-eto-puzyr/

Credit Suisse CEO Tijan Thiam: Bitcoin is a bubble

The CEO of one of the largest Swiss banks Credit Suisse called…

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