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UBS plans a capital increase of approximately CHF 350 million for the UBS (CH) Property Fund - Swiss Mixed "Sima" at the end of April or early May, aimed at funding property acquisitions, renovations, and debt repayment. The exact terms will be revealed in early April, with the fund focusing on residential and commercial properties in major Swiss cities. In other news, Logitech has raised its outlook following strong holiday sales, while Nestlé is set to invest $1 billion in expanding production in Mexico.
Bitcoin has surpassed $100,000 for the first time, fueled by optimism surrounding political and regulatory support from US president-elect Donald Trump. The cryptocurrency has risen over 40% since Trump's election, with the nomination of crypto advocate Paul Atkins to lead the SEC further boosting investor confidence.This surge marks a significant turnaround for the sector, which faced a crisis just two years ago following the FTX collapse. Now, industry leaders anticipate a "golden era" for crypto under the Trump administration, expecting favorable regulations to attract substantial investments from major asset managers.
Portal has launched its Hub and Wallet to tackle Web3 fragmentation, offering a user-friendly marketplace and a cross-chain wallet that simplifies asset management. The Hyperway infrastructure enhances liquidity and accessibility, empowering developers and users to navigate the decentralized landscape seamlessly. With over 150 curated games and partnerships across 15 chains, Portal aims to bridge the gap between Web2 simplicity and Web3 innovation.
[Bloomberg](https://www.bloomberg.com) and [SEC]
Swiss banks are largely missing out on the cryptocurrency trend, despite a significant portion of the population investing in Bitcoin and Ethereum. While some cantonal banks and Postfinance offer direct purchases, major institutions like UBS and Pictet remain skeptical, limiting their involvement to ETFs. This cautious approach contrasts with the growing interest among younger investors, who often turn to foreign platforms for their crypto transactions.
One in nine Swiss residents invest in cryptocurrencies, primarily driven by curiosity rather than financial motives. A study reveals that while Bitcoin and Ether are the most recognized cryptocurrencies, interest is notably higher among younger generations and men, with many investors holding small amounts, indicating experimental investments.
U.S. markets surged post-election, with the S&P 500 closing above 6,000 and the Dow surpassing 44,000 for the first time. Bitcoin also hit a record high of $88,684, while analysts caution that the rally may be overextended, urging investors to remain prudent and diversified amid uncertainty.
VanEck has launched the PYTH ETN on Euronext Amsterdam and Paris, expanding access to decentralized finance (DeFi) for investors in 15 European countries. The ETN is fully backed by PYTH tokens and aligns with the MarketVector Pyth Network VWAP Close index, reflecting the token's performance. Meanwhile, Binance is contesting the SEC's allegations that certain cryptocurrencies, including AXS and FIL, are securities, arguing that each transaction should be evaluated individually under existing law.
The event at the Chamber of Deputies focused on the social value of cryptocurrencies and Web3, highlighting their potential for financial inclusion and philanthropy in Italy. Gianluigi Guida, CEO of Binance Italy, warned that a proposed tax increase on cryptocurrency capital gains could hinder innovation and competitiveness, stressing the technology's role in supporting humanitarian efforts and transparency in charitable donations. Binance Charity has already contributed over $20 million to various projects, showcasing the tangible benefits of blockchain beyond mere investment.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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