The Parliamentary Commission of Inquiry into the UBS case reveals significant failures in the handling of Credit Suisse, highlighting a lack of lessons learned from the 2008 UBS crisis. Key issues include ineffective regulatory oversight, excessive bonus payouts amid losses, and a negligent response from Swiss authorities, culminating in a questionable sale to UBS without a viable strategy for future banking crises. The report fails to provide solutions for preventing another financial disaster, leaving taxpayers vulnerable.
Donald Trump demands NATO countries increase military spending to 5% of GDP, while the EU faces rising debt and discontent among its member states. Switzerland, thriving through various industries, resists EU integration, with political leaders struggling to gain public support for a contentious treaty that may face significant opposition in upcoming elections.
Yvan Lengwiler, a banking regulation expert and former Finma board member, critiques the recent strengthening of UBS's capital base, arguing it fails to address underlying issues. Following the CEP report on Credit Suisse, he warns that the weaknesses of Switzerland's financial watchdog may lead to overlooked resolutions.
Switzerland's banking history is marred by crises, from the 90s real estate bubble to UBS's near-collapse in 2008. Strengthening Finma's powers and clarifying supervisory roles are crucial, yet past political complacency raises concerns about future vigilance and the risk of self-regulation returning. The Confederation must adopt a proactive stance to prevent existential financial crises, particularly regarding UBS's perceived threat.
Bitcoin's recent price drop to $92,281, following a peak of $108,268, is linked to the US Federal Reserve's policy changes, including a reduction in projected rate cuts. Despite this decline, analyst Burak Kesmeci asserts that Bitcoin remains in a bullish cycle, with key moving averages indicating potential for recovery. Currently trading at $97,354, Bitcoin's market structure is still intact, and corrections of 20-30% are considered normal in bull runs.
Hack victims of the collapsed New Zealand crypto exchange Cryptopia are set to receive over $225 million in digital assets after years of waiting. More than 10,000 verified account holders have begun receiving distributions of Bitcoin and Dogecoin, following a judge's ruling that recognized digital assets as property in liquidation cases. Liquidators are committed to resolving the matter swiftly for affected customers.
Warren Buffett has invested over $563 million into three assets after selling significant stakes in Apple and Bank of America. His recent purchases include $405 million in Occidental Petroleum, $113 million in Sirius XM Holdings, and $45 million in VeriSign, as Berkshire Hathaway now owns more than 10% of each company.
Cango Inc., a Shanghai-based car dealership, has invested $256 million in Bitcoin mining, acquiring 32 EH/s from Bitmain Technologies. The company extracted 363 BTC in November, positioning itself as the fifth-largest public Bitcoin miner globally, with plans to expand its hashrate to 50 EH/s by 2025. Despite China's mining ban, Cango's venture is thriving, significantly boosting its revenue and market cap.
Solana (SOL) has faced a 17.13% decline amidst recent market turmoil, following a peak of $263.83 post-US elections. Despite this, analysts from Glassnode highlight a positive net capital inflow and suggest that the MVRV ratio indicates potential for further gains before reaching an overheated market state. Currently trading at $194.58, Solana has seen a remarkable 2,143% increase since its November 2022 low, outperforming Bitcoin and Ethereum on numerous market days.
Dogecoin (DOGE) has plummeted 25% in two days, raising concerns it may fall below $0.20 amid a broader crypto market correction. Analysts highlight a key support level at $0.22076, while predictions suggest a potential rebound, with forecasts of reaching $1.21 by March 2025.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings