The Parliamentary Investigation Committee has issued 20 recommendations to the Federal Council, highlighting the need for improved enforcement and legislative measures regarding the "Too Big to Fail" (TBTF) framework, particularly for globally active banks. Key proposals include enhancing coordination among financial authorities, increasing transparency in bank inspections, and strengthening the enforcement powers of the Swiss Financial Market Supervisory Authority (Finma). The Federal Council is expected to respond to these recommendations in the Spring 2025 session.
SP National Councillor Nordmann and SVP National Councillor Matter have commented on the PUK report regarding the Credit Suisse debacle, labeling it a "systemic failure." Their statements highlight significant concerns about the oversight and management failures that contributed to the crisis.
Rexas Finance (RXS) is emerging as a leading player in asset tokenization, raising over $28 million in its presale and poised for a successful exchange listing in 2025. Alongside promising altcoins like Avalanche (AVAX), Bonk, Uniswap (UNI), and Toncoin (TON), investors have a unique opportunity to capitalize on significant growth potential in the next five months. Each token offers distinct features and strong market prospects, making them attractive options for those looking to enhance their crypto portfolios.
Novartis will close two MorphoSys sites in Munich and Boston by the end of 2025, following delays in the development of pelabresib. The Swiss pharmaceutical company acquired MorphoSys for €2.7 billion ($2.9 billion) earlier this year, focusing on innovative oncology treatments.
The Parliamentary Commission of Inquiry's report highlights Credit Suisse's management failures and regulatory shortcomings by FINMA, emphasizing the need for efficient cooperation among authorities. It stresses that the banking sector remains robust, and regulatory overreach could harm Switzerland's financial competitiveness. Ensuring UBS's international competitiveness is vital for the economy, as it supports the export industry.
Trader Michaël van de Poppe believes Bitcoin could surge over 400% to reach $500,000 in the current cycle, despite recent dips below $100,000. He notes that while Bitcoin may have hit a near-term peak, altcoins are poised for significant gains as market conditions evolve. The crypto bull market is expected to continue, offering surprises and higher returns for patient investors.
Nestlé in Ukraine increased production by 10% in 2024, with plans for similar growth in 2025, despite ongoing challenges from the war. CEO Alessandro Zanelli highlighted the resilience of the Ukrainian economy, stable inflation, and the company's strategy focused on sustainability and adaptability. The new plant in Volyn, set to launch in January 2025, aims to create a food production center for significant exports, reinforcing Nestlé's commitment to investing in Ukraine during these challenging times.
Dogecoin's recent gains have been overshadowed by bearish forecasts from the FED, with its price consolidating between $0.35 and $0.47 after a significant rally. Meanwhile, the DTX Exchange is experiencing a 33% surge in its presale, attracting DOGE investors with its robust security and decentralized trading platform. Analysts suggest that while DOGE faces short-term risks, its long-term outlook remains positive, with potential for growth in 2025.
Ledger wallets are renowned for their security, supporting over 5,500 cryptocurrencies, with models catering to both beginners and advanced users. Electrum is a lightweight Bitcoin-focused wallet ideal for experienced users, while NOW Wallet offers flexibility and strong customer support for altcoins. MetaMask excels in Ethereum management but lacks broader support and security features, whereas Trust Wallet provides versatile cryptocurrency handling but has limitations in customer support and desktop usability.
Germany's Bundestag has passed the Digitalization of Financial Markets Act, enabling the full implementation of the EU's MiCAR cryptocurrency regulation before its December 30 deadline. This legislation designates BaFin as the regulator, allowing German firms to operate under MiCAR while establishing a one-year transition period for existing licenses. Meanwhile, varying transition periods across EU countries necessitate that crypto asset service providers secure new authorizations promptly to avoid operational disruptions.
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