Market

Justin Sun Interested In Acquiring Assets From Credit Suisse And Putting It On Web3

TRON founder Justin Sun wants to buy assets or shares of the troubled and on the verge of bankruptcy, Credit Suisse (Switzerland) and bring it to the Web3.

Credit Suisse has been the focus of attention for the past few days. The reason is that the fee for the bank’s 5-year default swap (CDS) contract increased to 250 basis points (2.5%) last Friday.

Credit Suisse’s CDS spreads are currently unrecognized since 2009. As illustrated below, the cost of insuring the company’s bonds against default increased by about 15% last week to the highest said.

Source: Twitter

Alongside, and the market capitalization of the Swiss bank dropped to around 10 billion Swiss francs [$10.1 billion] as the shares of the company tumbled below $4 to create a new all-time low last week.

Faced with a dangerous situation, TRON founder Justin Sun shared about wanting to buy back Credit Suisse assets or shares and bring it to the Web3. Surely Justin Sun is looking to expand and diversify the ecosystem for TRON.

Despite the dire indicators looming, CEO Ulrich Koerner had to reassure employees and the market over the weekend. The Wall Street Journal quoted an insider as saying that Koener asserts its capital buffer at nearly $100 billion. Liquid assets are also near the $238 billion announced in June. However, observers do not think the bank has enough capital.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

Victor

Recent Posts

Dtec Announces Global Partnership with DİZAYNVIP to Elevate AI-Driven Mobility Design  

Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…

25 mins ago

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

5 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

7 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

9 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

10 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

13 hours ago

This website uses cookies.