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BTCUSD Bitcoin

249.09 (0.95%)
15:29:46 - Realtime Data
Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 518,422,457,165 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  249.09 0.95% 26,603.24 29,187.39 29,187.40
High Price Low Price Open Price Prev. Close 52 Week Range
26,658.33 26,321.37 26,362.98 26,354.15 15,500.00 - 31,862.21
Exchange Last Trade Size Trade Price Currency
GDAX 15:29:46 0.00000037 26,603.24 USD
Price x Volume Volume Base Symbol Related Pairs
196,231,274.53 7,415.03 BTC BTCEUR BTCGBP ETHBTC

BlackRock Says No To Credit Suisse – Are Their Books So Bad?

19/03/2023 12:44pm


Credit Suisse Group, a global investment bank based in Switzerland, is struggling to survive. However, despite rumors, BlackRock says it has no interest in participating in any plans to acquire the bank. Credit Suisse Is Under Pressure Credit Suisse is the second-largest bank in Switzerland. In the past week, the lender’s stock crashed by 30%, forcing it into a financial spiral that spooked its investors. In response, the bank announced that it would borrow up to CHF 50 billion, or $53.7 billion from the Swiss National Bank, as relief funds. However, the bank’s woes are far from over. Related Reading: Conflux (CFX) Token Tallies 167% Increase In Past Week – Here’s Why According to reports, the Swiss bank may need to take further measures to restore the confidence of its investors. BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so. — BlackRock (@BlackRock) March 18, 2023 BlackRock, the world’s largest asset manager, says it has no interest in participating in any plans to acquire all or any part of the struggling bank. This announcement caused spectators like Coin Bureau to question the severity of the problem in Credit Suisse’s books. The global market is currently experiencing high volatility levels, making investors hyper-sensitive to financial institutions’ identity and economic positioning. That is why the announcement by BlackRock has significantly impacted Credit Suisse’s attempts to restore confidence. The situation between BlackRock and Credit Suisse is similar to Binance’s intent to avoid FTX and the subsequent FTX crash. Suggesting that things were worse than what was previously advertised. UBS May Take Over To Restore Trust Credit Suisse’s stock is down over 70% in the last year, with customers withdrawing $133 billion from 2022 to date. In February, the bank reported an annual net loss of around $8 billion, its worst record since the 2008 financial crisis. To restore trust in the financial sector, the Swiss government and global authorities are nearing a deal for UBS Group to take over Credit Suisse and fix the crisis of confidence. Credit Suisse also announced that it would buy back some of its debt. Some analysts are not in support, seeing such actions as a potential vulnerability that may hinder its survival. Related Reading: Bitcoin Bullish Signal: NUPL Is Forming A Golden Cross On the other hand, BlackRock has been researching the use of Blockchain and tokenization of stocks as an upgrade to the traditional stock market. BREAKINGD: BlackRock is researching how blockchain technology, and tokenization of stocks could be used to modernize the stock market. — whalechart 🐳 (@WhaleChart) March 18, 2023 One use case would be to solve the inefficiency of stock transfers between brokers. Unlike traditional stock transfers that require several days of confirmation, the blockchain can usher in automatic recording and instant processing of stock transfer transactions. Feature Image From Getty Images, Chart From TradingView

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