Switzerland Financial News

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

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

On Feb. 22, cryptocurrency exchange MEXC Global released its proof-of-reserves (PoR) snapshot after 45 days of testing. In a document seen by Cointelegraph, MEXC claimed its reserve ratios for Tether (USDT), USD Coin (USDC), Bitcoin (BTC), and Ethereum (ETH) were 120.70%, 240.18%, 116.50%, and 110.53%, respectively via the Merke Tree method. 

UBS is preparing to apply for a mutual-fund license in China, according to people familiar with the matter, becoming the latest Western bank to take advantage of Beijing’s relaxed rules on foreign financial institutions.

Google's cloud computing arm has added another string to its Web3 bow, with a new partnership to see it becoming a network validator on the Tezos blockchain.

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

In January 2023, during the World Economic Forum’s (WEF) annual conference in Davos, Switzerland, Jaime Leverton, CEO of Hut 8, a crypto mining entity that trades as a public company, sat down with me for a fireside chat at the Crypto Summit on the Promenade. Leverton outlined some of her views on the recent shakeout in the cryptocurrency market and reflected on how Bitcoin (BTC) mining fares during the current turbulent period for the industry.

Swiss markets regulator Finma is examining statements made by Credit Suisse chair Axel Lehmann in December relating to outflows from the bank, according to reports.

The use of blockchain technology in the healthcare industry has the potential to revolutionize the way medical records are managed, medical research is conducted and patient care is delivered. Here are nine promising use cases for blockchain in healthcare.

South Korean prosecutors have applauded “meaningful” charges brought against Do Kwon, the Co-founder of Terraform Labs, by the top American financial regulator.

The nation of El Salvador is creating a «Bitcoin Embassy» in the United States, making it the first government in the world to do so. Bitcoin (BTC) is the most popular cryptocurrency in the world.

Non-custodial crypto platform ShapeShift refuted United States Senator Elizabeth Warren’s claims of "illicit financing,” suggesting that she used the platform as a scapegoat to “push” her latest crypto bill, according to a recent statement.

A complaint filed by the United States Securities and Exchange Commission said Terra co-founder Do Kwon and Terraform Labs laundered more than $100 million worth of Bitcoin from the platform following its collapse in May 2022.

El Salvador is planning to open a “Bitcoin [BTC] embassy” in Texas, El Salvador’s ambassador to the United States, Milena Mayorga, tweeted on 14 February. This news came after a similar venture in Switzerland to encourage the use of cryptocurrencies in 2022.

The Bitcoin (BTC) white paper title describes Bitcoin as a “peer-to-peer electronic cash system.” So how is Bitcoin being used as a means of exchange, or electronic cash, in the first country to adopt Bitcoin? 

The world’s biggest cryptocurrency, Bitcoin (BTC), is connecting more countries as the government of El Salvador is opening a “Bitcoin Embassy” in the United States.

A former FTX executive’s foundation allegedly turned a donation of some $600,000 in FTT tokens into a whopping $150 million. And he now wants to cash out the frozen assets. 

Polaris Ventures, a charity founded by former FTX and Alameda chief of staff Ruairi Donnelly, reportedly sought to receive roughly $150 million from the bankrupt exchange’s employee token sales.

Taurus, a digital asset infrastructure provider for financial institutions in Europe, has raised $65 million in a Series B capital raise led by Credit Suisse. The funding round also saw participation from several other institutional investors, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis. 

Founded in April 2018, Taurus provides enterprise-grade infrastructure to issue, custody and trade any digital assets: cryptocurrencies including staking, tokenized assets and digital currencies.Taurus already works with more than 25 financial institutions and corporate clients in eight countries and three continents, including systemically important financial institutions, retail and online banks, private banks, crypto-banks, investment banks, and broker-dealers. Clients include Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote, Vontobel.André Helfenstein, CEO, Credit Suisse Switzerland, comments: "The strategic partnership with Taurus is a cornerstone of the Swiss Bank division's digital assets strategy with the ambition to become the leading Swiss bank in that space.

Credit Suisse on Thursday reported a fourth-quarter and annual net loss that missed expectations, as the Swiss bank continued with its huge strategic overhaul.