A commission of inquiry has found Credit Suisse's Board and management responsible for the bank's loss of confidence, while criticizing the Swiss banking regulator, Finma, for its "partial inefficiency." The report highlights Finma's failure to act decisively despite numerous warnings and calls for stricter regulations for systemically important banks. The merger with UBS raises concerns about the future stability of Switzerland's banking sector.
The FTSE 100 has dropped over 3% this week, facing significant risk aversion due to U.S. Federal Reserve rhetoric, potential government shutdown, and tariff threats from Donald Trump. The index is testing a crucial support level at 8,000 points, with a favorable risk/reward ratio for potential buying, while a break below this level could signal a bearish outlook for the market.
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The Parliamentary Commission of Inquiry's report on Credit Suisse's downfall highlights years of mismanagement, scandals, and a lack of compliance with regulatory authorities, leading to a crisis that necessitated an emergency merger with UBS. The report criticizes the "too big to fail" legislation for being overly lenient and calls for improved cooperation among authorities and better risk management. It also emphasizes the need for lessons to be learned, as Switzerland now has only one globally systemically important bank.
Ethereum's price has dipped below $3,400 amid a broader market downturn, with Bitcoin falling under $96,000. The cryptocurrency has seen a 12.44% decline over the past week, facing increased selling pressure and significant outflows from Ethereum ETFs, including a $58.13 million sell-off by Grayscale. As whales offload tokens to repay debts, the critical support level at $3,035 is under scrutiny, with potential further declines towards $2,942 if the bearish trend continues.
Kenneth Michael from E-Magine Ventures emphasized the importance of community engagement in Web3 during a recent discussion. He introduced Rewardable, a task-to-earn platform launched in November 2024, which features a unique ID score system and mandatory KYC to ensure genuine user participation and trust. The platform offers diverse task templates and rewards users with $REWARD tokens, aiming to bridge Web2 and Web3 while enhancing user experience and engagement quality.
The crypto market is experiencing volatility, with Ripple's XRP recently surging above $2.70 before facing rejection, while analysts predict potential growth to $5.85. Meanwhile, the DTX Exchange has gained traction, hitting an all-time high and raising over $10.4 million in its presale, positioning itself as a significant player in the crypto space.
A parliamentary investigation has concluded that Credit Suisse is responsible for its collapse in spring 2023, citing significant financial losses of 33.7 billion francs over twelve years while paying out 39.8 billion francs in bonuses. The report criticized the Financial Market Authority for ineffective supervision and called for clearer regulations for systemically important banks. Following its difficulties, Credit Suisse was sold to UBS in an emergency sale, averting fears of a global financial crisis.
Shiba Inu has partnered with Chainlink to enhance its multi-chain ecosystem, Shibarium, by integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Cross-Chain Token (CCT) standard. This collaboration allows Shiba Inu assets—SHIB, LEASH, and BONE—to operate across 12 blockchains, facilitating secure token transfers and advanced data integration. The integration aims to drive broader adoption and innovation within the Shiba Inu ecosystem, despite a recent decline in SHIB's market value.
Credit Suisse reported losses of CHF 33.7 billion over twelve years while paying out CHF 39.8 billion in performance bonuses, leading to scrutiny of supervisory authorities. The parliamentary committee found that the Financial Market Authority's oversight was ineffective, particularly in relaxing capital requirements. Following a crisis, Credit Suisse was sold to UBS in March 2023, averting fears of a global financial crisis.
A satirical cap featuring the Credit Suisse logo has become a bestseller at Zurich's online store Plakativ, resonating particularly within financial circles. The design elicits mixed reactions, with some praising its humor while others criticize it as distasteful. Despite the controversy, demand remains high, especially during promotional events like Black Friday.

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