Switzerland Financial News

Bitcoin (BTC) failed to hold $20,000 into the September monthly close as one trader eyed a final comeback before fresh downside.

Central bank digital currencies (CBDC) can work well with decentralized finance (DeFi), and they have a lot of potential to boost DeFi adoption, according to a Swiss central bank official.

Of all Brexit-supporters’ claims, the idea that there was a great free trade deal with the US just waiting to be signed was always one of the most fanciful.

Rothschild & Co has hired JPMorgan's head of Switzerland to lead its investment banking unit in the country.

The United Arab Emirates (UAE) Ministry of Economy has announced a new headquarters located where anyone in the world can visit — the Metaverse. 

Switzerland-based crypto-lender Nexo is facing simultaneous enforcement action from eight different U.S states over varying allegations. Actions include cease and desist orders, administrative measures etc.

Citigroup has tapped one of Credit Suisse's top dealmakers to co-head its investment banking unit in Europe, as the Swiss bank continues to lose banking talent amid a broader shake-up.

Cryptocurrency lender Nexo on Tuesday announced it has taken a stake in a federally-regulated U.S. bank, paving the way for the company to offer banking services to Americans as a licensed institution.

Former Credit Suisse chair Sir António Horta-Osório has joined Cerberus Capital Management as a senior adviser in Europe, adding to a set of new roles since his sudden departure from the Swiss bank in January.

Two subsidiaries of French bank Crédit Agricole’s corporate and investment banking arm have agreed to pay more than $1.12m in civil penalties to settle alleged violations of US sanctions, the Treasury Department said on 26 September.

Credit Suisse on 26 September said its comprehensive strategic review is on track, including potential divestitures and asset sales.

Central banks around the world are raising their key interest rates in the most widespread tightening of monetary policy on record. Some economists fear they may go too far if they don’t take into account their collective impact on global demand.

Ethereum (ETH), the second most-valued crypto after Bitcoin, also was up 7% at $1352, while Ripple (XRP) gained by a whopping 30% to $0.536. The US-dollar pegged stablecoin Tether (USDT) traded with a mild cut, while meme-coins, including Dogecoin and Shiba Inu also rose in trade by up to 8%. Bitcoin (BTC) was largely holding on to $19,000 levels even as central banks globally have resorted to aggressive interest rate hikes following the US Fed’s ultra-hawkish outcome on Wednesday. After the Fed outcome, Bitcoin tumbled to below $18,400, its lowest level since early June, but later re-gained momentum in Thursday’s session after investors started to take positions again in the crypto market. Following sharp gains in digital tokens, the global market cap over the last 24 hours ascended by 5% to $953.18 billion, while volumes in the crypto universe tanked by over 16 per cent.

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The bitcoin price remains down today, with its 0.5% gain in the past 24 hours cancelled out by a 5% drop in a week and 10% fall in a month. However, it has rebounded by nearly 4.8% since reaching a 24-hour low of $18,262 yesterday, which it did in the wake of the Federal Reserve bumping interest rates in the US by 0.75%.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Credit Suisse is set to extend retention bonuses to a select band of senior dealmakers in London in a bid to stem defections as it embarks on a fresh cost-cutting programme.

Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business.

Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain.

Bitcoin (BTC) and Ethereum's native token, Ether (ETH), started the week on a depressive note as investors braced themselves for a flurry of rate hike decisions from central banks, including the U.S. Federal Reserve and Bank of England.

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