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ethereum plummets 20 percent as federal reserve guidance spooks markets
Ethereum prices plummeted over 20% from a peak of $4,100 earlier in the week, dropping to $3,260 amid a broader market selloff influenced by the Federal Reserve's cautious interest rate outlook. In contrast, Bitcoin fared slightly better, losing about 12% from its all-time high of $108,000, as higher rates limit liquidity in the crypto market.
TradingView
United States Dollar End Federal Reserve USD USA Jay Powell
Finance & Economy, Market Report
10:24 20.12.2024
credit suisse crisis report sparks widespread criticism and calls for reform
Following the parliamentary commission's report on the Credit Suisse crisis, significant criticism has emerged towards various stakeholders, including former Federal Councillor Ueli Maurer. The Swiss Bankers Association and the Federal Council acknowledge regulatory weaknesses, while calls for improved oversight and management practices intensify. The Greens propose a "Lex UBS" to address risks from the newly formed megabank, and UBS attributes CS's collapse to mismanagement and strategic failures.
Baseljetzt | Nachrichten für Basel und Region
United States Dollar Swiss Franc Credit Suisse Real Estate Fund Siat CHE Ueli Maurer
Finance & Economy, News Article
10:23 20.12.2024
XRP price drops amid broader crypto market correction and analyst optimism
XRP's price fell sharply below $2.20 amid a broader cryptocurrency market correction, with the global market cap down nearly 9%. Despite this decline, analysts remain optimistic, predicting potential rebounds to targets as high as $5, with some suggesting even greater peaks if a FOMO-driven rally occurs.
CryptoPotato
Fidelity Contrafund Armando Pantoja Jerome Powell
Finance & Economy, Market Report
10:21 20.12.2024
parliamentary inquiry calls for reforms after credit suisse bailout crisis
The parliamentary commission of inquiry (PUK) has criticized the management of Credit Suisse (CS) for the crisis that led to its bailout, while acknowledging the authorities' role in averting a global financial disaster. The PUK calls for stronger "too big to fail" regulations and clearer cooperation among financial stability authorities, highlighting shortcomings in the Federal Council's response and Finance Minister Ueli Maurer's inadequate communication. Despite FINMA's supervisory efforts, repeated scandals at CS indicate limited effectiveness in oversight.
Tages-Anzeiger
United States Dollar Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Ueli Maurer
Finance & Economy, News Article
10:19 20.12.2024
Bitcoin's Supply Cap Remains Unchanged Amid Market Volatility and Speculation
Adam Back, a prominent figure in the Bitcoin community, reassured that the cryptocurrency's maximum supply of 21 million is not at risk of being increased, despite a disclaimer from BlackRock suggesting otherwise. He dismissed the disclaimer as legal caution, emphasizing that any change would fundamentally alter Bitcoin's identity. Meanwhile, Dogecoin's co-founder, Billy Markus, reacted to the recent market crash of major cryptocurrencies with his characteristic sarcasm, using the acronym "WAGMI" to convey a sense of ironic optimism amidst the turmoil.
U.Today
MicroStrategy Incorporated BlackRock, Inc. Michael J. Saylor Charlie Shrem Adam Back Billy Markus Show more
Finance & Economy, News Article
10:15 20.12.2024
credit suisse crisis report highlights government failures and supervisory shortcomings
The PUK report on the Credit Suisse crisis criticizes former Finance Minister Ueli Maurer for insufficient communication with the Federal Council, highlighting his verbal-only updates and lack of written documentation. The report calls for improved information exchange, risk management, and emphasizes the need for better capitalization of systemically important banks. Additionally, it points out the inadequate supervisory actions by Finma, despite regular audits and written expectations communicated to CS.
Schweizer Radio und Fernsehen (SRF)
Credit Suisse Real Estate Fund Siat CHE Karin Keller-Sutter Beat Flach Ueli Maurer Thomas Matter Roger Nordmann Show more
Finance & Economy, News Article
10:15 20.12.2024
cryptopia begins distributing 225 million dollars in crypto reimbursements
Cryptopia, the New Zealand-based crypto exchange that went bankrupt after a cyberattack, has begun returning approximately NZ$400 million (about $225 million USD) to 10,000 verified account holders. Liquidators from Grant Thornton reported that over NZ$400 million in crypto has been returned on-chain recently, with plans for further distributions next year for newly verified users. They encourage remaining account holders to register on the claims portal to be eligible for future distributions.
CoinCodeCap
Cryptopia USD NZL
Finance & Economy, News Article
10:15 20.12.2024
investigation reveals regulatory failures in credit suisse's troubled history
The CS-PUK report will guide future bank regulation by examining Finma's supervisory activities from 2015 through the recent crisis. During this period, Credit Suisse faced multiple negative incidents, including the "shadowing scandal," the Mozambique bond scandal, and the failures of Greensill and Archegos.
cash.ch
United States Dollar Credit Suisse Real Estate Fund Siat CHE
Finance & Economy, News Article
10:15 20.12.2024
nestle stock seen as undervalued amid leadership changes and market concerns
[Bloomberg]
Yahoo Finance
The Goldman Sachs Group Inc Nestle SA CHE Mark L. Schneider Christopher Rossbach Laurent Freixe Olivier Nicolai Show more
Finance & Economy, Market Report
10:13 20.12.2024
nestle stock faces historic drop as investors see turnaround potential
Nestle SA's stock has plummeted 25% this year, prompting J. Stern & Co. to increase its holdings, deeming the shares "far too cheap." Following the ousting of its CEO and reduced sales guidance, analysts are cautiously optimistic about a turnaround under new CEO Laurent Freixe, with expectations of a 20% stock rise in the next year. Despite the challenges, market sentiment suggests the selloff may have been excessive, particularly given Nestle's strong product portfolio in coffee, pet care, and nutrition.
BNN Bloomberg
Swiss Franc The Goldman Sachs Group Inc Citigroup Inc. Nestle SA Morgan Stanley CHE Jon Cox Cedric Besnard Mark L. Schneider Christopher Rossbach Laurent Freixe Olivier Nicolai Sarah Simon Cedric Norest Show more
Finance & Economy, Market Report
10:13 20.12.2024
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