Switzerland's financial market regulator, FINMA, has embraced recommendations to enhance its authority following a report on the collapse of Credit Suisse. The organization acknowledged the criticisms and is committed to improving its supervisory capabilities and applying lessons learned from the incident.
The SP Switzerland demands urgent measures to mitigate the risks posed by the oversized UBS, calling for a ban on bonuses for systemically important banks and an end to party financing by UBS. They criticize the slow revision of too-big-to-fail regulations and highlight the need for higher capital requirements and stronger oversight of financial institutions to protect taxpayers from potential crises.
Trillium Surveyor has partnered with Kaiko to enhance cryptocurrency trade surveillance amid evolving regulatory landscapes and growing institutional interest. This collaboration integrates Trillium's surveillance platform with Kaiko's market data, enabling financial institutions to swiftly identify and mitigate suspicious trading activities.As global regulations tighten, including the EU's MiCA framework and the UK's FCA oversight, the need for robust compliance tools becomes critical for market integrity and consumer protection.
Chainlink's LINK token has corrected 15% from its December peak, currently trading around $24.08, despite a remarkable 63% gain over the past month and 69% over the year. Trading volume surged by 49%, indicating active market engagement, while analysts remain optimistic, projecting a potential price of $75 by May 2025.
Revolut has added Binance Coin (BNB) to its trading platform, a move announced by Binance CEO Changpeng Zhao, who expressed surprise at the listing. With a global user base of 40 million, one-third from the UK, Revolut continues to expand its cryptocurrency offerings alongside services like foreign exchange and international payments. The company, valued at $1.7 billion, has seen rapid growth, increasing from 1.2 million users in 2017 to 4.5 million currently.
Rexas Finance (RXS), priced at $0.15, is gaining attention as a potential altcoin contender, drawing parallels to Solana's 2021 growth. With a 400% increase in presale value and a focus on tokenizing real-world assets, it aims to revolutionize investment strategies in traditionally inaccessible markets. The project has raised over $28.7 million in presale, positioning itself for significant demand as it approaches major exchange listings.
Swiss lawmakers have called for stricter oversight of the financial sector following a report that attributed Credit Suisse's collapse to mismanagement and criticized regulatory responses. Meanwhile, UniCredit's CEO emphasized the need for deeper European banking integration to enhance economic growth, while US regulators face scrutiny over their handling of bank mergers, particularly regarding Capital One's proposed acquisition of Discover. In a separate development, Crédit Agricole has agreed to acquire Santander's stake in Caceis, gaining full control of the asset servicing entity.
Bitcoin (BTC) plummeted 14% in three days, dropping from over $108,000 to around $93,200, influenced by the Federal Reserve's inflation concerns. The meme coin market suffered a 20% decline, with major assets like DOGE and SHIB facing significant losses, while XRP hit a multi-day low of under $2, though optimism remains for a potential rally driven by key developments.
Coinbase has surpassed Nasdaq and the Hong Kong Stock Exchange in transaction revenue, generating $5.75 billion over the past year, though it still lags in trading volume. Despite a recent revenue dip to $1.2 billion in Q3 2024, analysts predict growth potential in international markets. CEO Mouloukou Sanoh anticipates Coinbase could become a leading global exchange in the next decade.
The PUK report on the Credit Suisse crisis reveals extensive mismanagement within the bank, leading to its merger with UBS for CHF 3 billion, backed by significant state guarantees. The investigation criticized regulatory bodies for inadequate oversight and the Federal Council for poor communication during the crisis, while ultimately endorsing the UBS acquisition as the best option to prevent a global financial disaster. The commission issued 20 recommendations and 11 motions aimed at improving banking regulations and oversight.

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