TagCredit Suisse

Japan's Biggest Bank Won a $500 Million Bond Deal, Only to Lose $15 Million

MUFG

The securities unit of Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest banks, purchased $500 million in bonds only to fumble up in the red. A move against its competitor Credit Suisse Group AG, the company fought hard to garner what they thought would yield solid profits in 2027, only to receive a mediocre response from investors and $15 million in losses on the table. The Bond...

How Apple & Google Transformed into a Systemic Risk to the US Stock Market

apple stock market price

According to Credit Suisse strategists, the “reversal of fortunes” seen by tech behemoths Apple and Google-parent Alphabet are dragging down the performance of the overall US stock market. The S&P 500 forecast has been “skewed” by companies suddenly transitioning from high growth forecasts to much more modest outlooks. This Bad Apple Could Roil the S&P 500 An “unusually high” number of...

Morgan Stanley Poaches Credit Suisse ‘Bitcoin Expert’ to Head Crypto Division

morgan stanley bitcoin cryptocurrency

Morgan Stanley, one of the world’s largest investment banks, has just poached Credit Suisse’s resident “bitcoin expert” to head the former’s digital assets unit. As first reported by eFinancialCareers, Morgan Stanley, which ranks sixth among U.S. banks with $858 billion in total assets, hired Andrew Peel last month to serve as its new “head of digital asset markets.” He will work out of the...

Wall Street Banker Quits to Advise ICO Startups - Report

Tezos

Brian Wirtz must have been a fish out of water at Credit Suisse Group AG. The investment banker for the bank's tech, media and telecom group was more interested in evangelizing cryptocurrencies than he was traditional deals, and most likely that made him the odd man out at a firm as traditional as Credit Suisse. Wirtz is leaving the Swiss bank where he was employed for nearly five years to start...

Bitcoin Mining Isn't an ‘Environmental Armageddon' : Credit Suisse Report

GMO Internet Cryptocurrency mining bitcoin

A Credit Suisse report downplayed fears that the growth of the bitcoin mining industry would initiate an “environmental armageddon.” Bitcoin Mining Not an 'Environmental Armageddon' The emergence of bitcoin as an economic force has had a correlative effect on the bitcoin mining industry, as increased profitability has attracted more miners to the ecosystem. This increased hashpower has come at...

$30 Million: Credit Suisse Predicts Square App Revenue Gains Due to Bitcoin

Square’s Cash app, which facilitates payments among friends, recently gave some of its users the ability to buy and sell bitcoin, in a move that according to Sarah Friar, the company’s CFO and operations lead, was about Square’s innovation, not bitcoin’s validation, as the company listens carefully to its customers when new products are launched. Square, which recently surpassed Venmo as one of...

Square Cash App Lets Users Trade Bitcoin Amidst Price Surge

Aragon Ethereum

Square’s cash app, which is used for payment among friends, is testing the ability to buy and sell bitcoin, a benefit that could make bitcoin easy to trade for a huge swath of the population, particularly younger consumers. Square’s cash app is one of the fastest and easiest ways to pay people, as the service is free and the transaction is completed almost immediate. Square Cash recently...

Credit Suisse CEO: Bitcoin Is The "Very Definition of a Bubble"

Tidjane Thiam Credit Suisse Bitcoin

At a time in which bitcoin reaches a new record high around the $7,500 mark and catapults the cryptocurrency market cap above the $200 billion mark for the first time in history, Credit Suisse CEO Tidjane Thiam makes it clear that he isn’t a fan of the cryptocurrency, as he stated it was the “very definition of a bubble” while speaking at a news conference in Zurich. The CEO expressed caution as...

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