FTX Trading Ltd. and its subsidiary, FTX Digital Markets, have reached a global settlement to address the challenges arising from the collapse of the FTX group in November 2022. The settlement is subject to approval from the U.S. Bankruptcy Court for the District of Delaware and the Supreme Court of The Bahamas.Under the terms of […]
The Swiss Bankers Association (SBVg) has responded cautiously to the lessons learned from the Credit Suisse crisis, staying true to its previous stance that a thorough analysis is necessary before any potential regulatory changes are made. The analysis and self-assessment by the Swiss Financial Market Supervisory Authority (FINMA) regarding the downfall of Credit Suisse has […]
The Appellate Court of Montenegro has revoked the extradition approval for Do Kwon, the founder of Terraform Labs, following an appeal by his defense attorneys. The court cited procedural irregularities in the legal process as the basis for its decision, raising questions about the extradition requests from the United States and South Korea.Kwon’s detention has […]
The Swiss financial regulator, Finma, has attributed the downfall of Credit Suisse to its compensation systems. According to a report by Finma, the bank’s bonus system failed to prevent losses or encourage good behavior. The report also highlighted governance issues as a major factor in the bank’s collapse.Finma stated that it had utilized all available […]
Ripple and Metaco, two companies driving the adoption of the XRPL (XRP Ledger), are joining forces to offer tokenization and digital custody solutions to global banks. The recent appointment of Adrien Treccani, former CEO of Metaco, as Senior Vice President of Product at Ripple suggests a possible evolution in the operational strategy between the two […]
Hex Trust, an institutional-grade digital asset custodian, has integrated MetaMask Institutional (MMI) into its platform to provide users with direct access to over 17,000 decentralized finance (DeFi) applications. This integration aims to simplify DeFi portfolio management for clients while ensuring compliance with regulatory standards.MMI offers various advanced features, including comprehensive portfolio management, robust transaction reporting […]
The UBS, a Swiss bank, aims to establish a stronger presence in the US investment banking sector, but it currently plays second fiddle to Wall Street giants. Despite its ambitions, the UBS acknowledges that it will likely remain behind the market leaders in the near future. The bank has taken steps to expand its investment […]
Major financial firms such as JPMorgan and HSBC are increasing their involvement in blockchain technology, signaling a growing acceptance of distributed ledger technology (DLT) in traditional finance. In November, both JPMorgan and HSBC made significant moves in the blockchain space.JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain on November 3, demonstrating […]
The Swiss Financial Market Supervisory Authority (FINMA) has released its report on the Credit Suisse crisis, calling for more sanctioning powers, stricter regulatory standards, and the ability to impose additional capital requirements.In its report on the collapse of Credit Suisse in March 2023, FINMA assesses the events at the bank and the strategic errors that […]
BlackRock, the asset management company, has submitted a new amendment to the S-1 filing for its spot Bitcoin ETF, the iShares Bitcoin Trust. The latest filing includes several changes, including the addition of a market ticker, IBIT, indicating that the fund intends to trade on the Nasdaq under that label. Previous filings used a blank […]
