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11 months, 1 week agoUS National Debt Soars to $34 Trillion, Raising Concerns of Economic Sustainability
The US national debt has skyrocketed by $6.7 trillion in just three years, reaching a staggering total of nearly $34 trillion. This alarming increase raises concerns about the country’s fiscal health and economic s…
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11 months, 1 week agoFormer Credit Suisse Research Head Joins Lombard Odier as Investment Chief for EMEA
Lombard Odier, the Geneva-based private bank, has hired Nannette Hechler-Fayd’herbe, a former research leader at Credit Suisse. She will be working for her former boss, Michael Strobaek, as the Head of Investment S…
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11 months, 1 week agoNew Accounting Rules Open Doors for Bitcoin Integration on Corporate Balance Sheets
The Financial Accounting Standards Board (FASB) has recently adopted new accounting rules for Bitcoin, which will have a significant impact on corporate finance. These rules, effective from fiscal years beginning…
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11 months, 1 week agoBasel Committee Proposes Measures to Safeguard Stablecoins in Banking Sector
The Basel Committee on Banking Supervision, a regulatory body comprised of central banks and financial authorities, has proposed measures to adjust its standard on banks’ exposure to cryptoassets. The committee p…
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11 months, 1 week agoSwiss Payment System Launches Instant Payment, Revolutionizing Transactions
The introduction of Instant Payment in the Swiss payment system is expected to be the biggest change since the introduction of QR codes on invoices. The Swiss National Bank (SNB) and SIX subsidiary Swiss Interbank…
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11 months, 1 week agoCoinW Expands Presence in MENA Region with Strategic Moves in Dubai and Saudi Arabia
CoinW, the world’s pioneering cryptocurrency exchange, has recently strengthened its presence in the Middle East and North Africa (MENA) region. The company participated in two industry events, the DATE Fintech S…
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11 months, 1 week agoPhilippine SEC Head Clarifies Three-Month Ban on Binance and Other Unregistered Exchanges
The head of the Philippine Securities and Exchange Commission, Kelvin Lee, has clarified that the ban on cryptocurrency exchange Binance will come into effect three months after the advisory was issued. The…
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11 months, 1 week agoUBS Takes Legal Action to Reclaim Millions in Bonuses from Former Credit Suisse Bankers
The Swiss bank, UBS, is intensifying its efforts to reclaim millions of bonus payments that were made to senior executives at Credit Suisse before its collapse. UBS has contacted hundreds of bankers from the…
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11 months, 1 week agoUK Financial Regulator Uses Cartoon to Educate Investors on Crypto Marketing Rules
The Financial Conduct Authority (FCA), the financial regulator in the United Kingdom, has released a minute-long animated video to educate investors about its marketing rules for cryptocurrency firms. The video,…
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11 months, 1 week agoGemini Earn Users Face Potential Losses of 39% in Crypto Investments
Gemini Earn users may only receive 61% of their crypto investments, according to a reorganization plan from Genesis, a defunct crypto lender. The plan has caused outrage among users, with some calling it…
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11 months, 1 week agoSwiss Asset Manager GAM Expects Continued Losses in 2023
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…
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11 months, 1 week agoGemini Earn Users Face Potential Losses in Proposed Reorganization Plan
Gemini creditors are facing a challenging situation with a proposed reorganization plan that could result in them recovering only a fraction of their original investments in Bitcoin. The plan, if accepted, could…
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11 months, 1 week agoYearn.finance Loses $1.4 Million in Treasury Due to Scripting Error
In a recent setback for Yearn.finance, a scripting error has resulted in a loss of $1.4 million from its treasury. The error occurred during the conversion of Yearn’s yVault LP-yCurve tokens into stablecoins on t…
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11 months, 1 week agoGemini Earn Creditors Face Drastic Bitcoin Payout Reductions in Proposed Reorganization Plan
Gemini Earn creditors are expressing frustration over a proposed reorganization plan that could significantly reduce their expected Bitcoin payouts. The plan, outlined in an email sent by Gemini Trust on December…
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11 months, 1 week agoUBS's Profits Soar to $7 Billion, Attracting Attention from Financial Investors
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 P…
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11 months, 1 week agoSwiss Electrical Engineering Company R&S Group Makes Unique Entry into Stock Market
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…
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11 months, 1 week agoSEC Pushes for Cash Redemption Model for Spot Bitcoin ETFs
As the U.S. Securities and Exchange Commission (SEC) reviews filings for spot Bitcoin exchange-traded funds (ETFs), it is insisting on a “cash” redemption model rather than alternative models proposed by iss…
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11 months, 1 week agoNew Accounting Rule Change Boosts Corporate Adoption of Bitcoin and Crypto
Bitcoin and other cryptocurrencies may soon experience a surge in adoption by U.S.-based companies, thanks to a recent accounting rule change. The new rule allows companies to more accurately reflect the value of…
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11 months, 1 week agoBinance Files Motion to Dismiss SEC Case, Citing Lack of Relevance in DOJ Settlement
Binance has submitted two key filings in response to an ongoing case launched by the U.S. Securities and Exchange Commission (SEC). The first filing seeks to dismiss the case, arguing that the SEC has not provided…
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11 months, 1 week agoYearn.finance Loses $1.4 Million in Treasury Funds Due to Scripting Error
Decentralized finance protocol Yearn.finance has experienced a significant loss of funds due to a scripting error. The error caused the protocol’s treasury balance of lp-yCRVv2 tokens to be swapped, resulting in a…
