Bitcoin rose over $ 28,000 after UBS approved the purchase of Credit Suisse

Von Krypto News Österreich

Das größte Bankinstitut der Schweiz – die UBS Group – ging eine Fusionsvereinbarung mit ihrem angeschlagenen Rivalen – der Credit Suisse – ein. Ersterer wird 3,25 Milliarden US-Dollar zahlen, um den Deal abzuschließen, was 60 % weniger ist als das, was die Credit Suisse Ende letzter Woche wert war. Bitcoin reagierte positiv auf die Nachricht und überschritt zum ersten Mal seit Juni 2022 die Marke von 28.500 $. Der Rettungsvertrag Der Schweizer Bankengigant Credit Suisse hat in den letzten Wochen erhebliche operative Probleme offengelegt, was die Schweizer Zentralbank und die lokale Finanzaufsicht veranlasst haben, einzugreifen. UBS reagierte auf die Intervention, …
The largest banking institute in Switzerland - UBS Group - entered into a merger agreement with its battered rival - the Credit Suisse. The former will pay $ 3.25 billion to complete the deal, which is 60 % less than what the Credit Suisse was worth at the end of last week. Bitcoin reacted positively to the news and exceeded the $ 28,500 mark for the first time since June 2022. In the past few weeks, the rescue contract of Swiss banking giant Credit Suisse has disclosed significant operational problems what the Swiss central bank and the local financial supervision have caused. UBS reacted to the intervention ... (Symbolbild/KNAT)

The largest banking institute in Switzerland-UBS Group-entered into a merger agreement with its struck rival-the Credit Suisse. The former will pay $ 3.25 billion to complete the deal, which is 60 % less than what the Credit Suisse was worth at the end of last week.

Bitcoin reacted positively to the news and for the first time since June 2022, the mark of $ 28,500

The rescue contract

The Swiss banking giant Credit Suisse has revealed significant operational problems in recent weeks, which the Swiss Central Bank and the local financial supervision have caused.

UBS reacted to the intervention that agree to acquire credit for $ 3.25 billion. In accordance with the conditions of the agreement, all shareholders of Credit Suisse 1 share of the UBS for 22.48 shares of Credit Suisse.

The battered bank will continue to do its business normally until the merger is completed. In addition, the Swiss National Bank will give it access to facilities that offer significant additional liquidity.

"Given the recent extraordinary and unprecedented circumstances, the announced merger represents the best available result.

This was an extremely challenging time for Credit Suisse, and while the team worked tirelessly to tackle many important contaminated sites and implement its new strategy, we are forced to find a solution today that provides a permanent result, ”said the Board of Directors of Credit Suisse of the Board of Directors - Axel Lehmann.

Interestingly, the founder of Tron-Justin Sun-also showed his ambition to buy the bank, Offer Dollar. He promised to integrate it into the web3 universe and praised Switzerland as one of the most crypto-friendly travel destinations worldwide.

BTC continues to increase

The primary cryptocurrency rose to a nine-month high and reached $ 28,500 (Coingecko data) shortly after the Credit Suisse announced the fusion details.

In the middle of this global banking disaster, Bitcoin's price has recently shot up and has increased by almost 70 % since the beginning of 2023.

The asset seems to thrive in such situations if some of the largest banks in the world have massive problems. Finally, Bitcoin was created during the last massive financial crisis caused by banks, many of which had to be collapsed and saved again.

remember that Silvergate Capital, Silicon Valley Bank and Signature Bank have disclosed operational difficulties, which caused the supervisory authorities to close them. SVB-one of the 20 best banks of America before their demise-even for insolvency protection last week.

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