{"id":523713,"date":"2023-03-19T12:44:08","date_gmt":"2023-03-19T12:44:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=523713"},"modified":"2023-03-19T12:44:08","modified_gmt":"2023-03-19T12:44:08","slug":"blackrock-says-no-to-credit-suisse-are-their-books-so-bad","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/blackrock-says-no-to-credit-suisse-are-their-books-so-bad\/","title":{"rendered":"BlackRock Says No To Credit Suisse &#8211; Are Their Books So Bad?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Credit Suisse Group, a global investment bank based in Switzerland, is struggling to survive. However, despite rumors, BlackRock <a href=\"https:\/\/twitter.com\/BlackRock\/status\/36987649\" target=\"_blank\" rel=\"noopener nofollow\">says<\/a> it has no interest in participating in any plans to acquire the bank.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Credit Suisse Is Under Pressure<br \/>\n<\/span><\/h2>\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/www.cnbc.com\/quotes\/CS\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Credit Suisse<\/span><\/a><span data-preserver-spaces=\"true\"> is the second-largest bank in Switzerland. In the past week, the lender&#8217;s stock crashed by 30%, forcing it into a financial spiral that spooked its investors.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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&#8217;s woes are far from over.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/altcoin\/conflux-cfx-token-tallies-167-increase-in-past-week-heres-why\/\" target=\"_blank\" rel=\"noopener \">Conflux (CFX) Token Tallies 167% Increase In Past Week \u2013 Here\u2019s Why<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">According to reports, the Swiss bank may need to take further measures to restore the confidence of its investors.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so.<\/p>\n<p>&mdash; BlackRock (@BlackRock) <a href=\"https:\/\/twitter.com\/BlackRock\/status\/36987649?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">BlackRock, the world&#8217;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\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/coinbureau\/status\/20075520\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Coin Bureau<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to question the severity of the problem in Credit Suisse&#8217;s books.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The global market is currently experiencing high volatility levels, making investors hyper-sensitive to financial institutions&#8217; identity and economic positioning. That is why the announcement by BlackRock has significantly impacted Credit Suisse&#8217;s attempts to restore confidence.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The situation between BlackRock and Credit Suisse is similar to Binance&#8217;s intent to avoid FTX and the subsequent FTX crash. Suggesting that things were worse than what was previously advertised.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">UBS May Take Over To Restore Trust<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Credit Suisse&#8217;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.<\/span><\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/YRG6FKXr\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/YRG6FKXr\/\" alt=\"Credit Suisse Group Stock Price| Source: NYSE, TradingView\" width=\"1280\" height=\"538\"><\/a><figcaption class=\"wp-caption-text\">Credit Suisse Group Stock Price| <a href=\"https:\/\/www.tradingview.com\/x\/YRG6FKXr\/\" target=\"_blank\" rel=\"noopener nofollow\">Source: NYSE, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">To restore trust in the financial sector, the Swiss government and global authorities are nearing a deal for\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/articles\/ubs-in-talks-to-take-over-credit-suisse-ed932b01\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">UBS Group<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to take over Credit Suisse and fix the crisis of confidence.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">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.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-bullish-signal-nupl-forming-golden-cross\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Bullish Signal: NUPL Is Forming A Golden Cross<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">On the other hand, BlackRock has been researching the use of Blockchain and tokenization of stocks as an upgrade to the traditional stock market.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKINGD: BlackRock is researching how blockchain technology, and tokenization of stocks could be used to modernize the stock market.<\/p>\n<p>&mdash; WhaleFUD (@WhaleFUD) <a href=\"https:\/\/twitter.com\/WhaleFUD\/status\/05252355?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">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.<\/span><\/p>\n<div class=\"disclaimer-shortcode\"><em>Feature Image From Getty Images, Chart From TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;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&#8217;s woes are far from over. Related Reading: Conflux (CFX) Token Tallies 167% Increase In Past Week \u2013 Here\u2019s 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. &mdash; BlackRock (@BlackRock) March 18, 2023 BlackRock, the world&#8217;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\u00a0Coin Bureau\u00a0to question the severity of the problem in Credit Suisse&#8217;s books. The global market is currently experiencing high volatility levels, making investors hyper-sensitive to financial institutions&#8217; identity and economic positioning. That is why the announcement by BlackRock has significantly impacted Credit Suisse&#8217;s attempts to restore confidence. The situation between BlackRock and Credit Suisse is similar to Binance&#8217;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&#8217;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\u00a0UBS Group\u00a0to 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. &mdash; WhaleFUD (@WhaleFUD) 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<\/p>\n","protected":false},"author":384,"featured_media":523714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[7720,1020,1522],"class_list":["post-523713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blackrock","tag-blockchain","tag-credit-suisse"],"acf":[],"yoast_head":"\n<title>BlackRock Says No To Credit Suisse - Are Their Books So Bad?<\/title>\n<meta name=\"description\" content=\"Credit Suisse Group, a global investment bank based in Switzerland, is struggling to survive but BlackRock is not buying.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/blackrock-says-no-to-credit-suisse-are-their-books-so-bad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlackRock Says No To Credit Suisse - Are Their Books So Bad?\" \/>\n<meta property=\"og:description\" content=\"Credit Suisse Group, a global investment bank based in Switzerland, is struggling to survive but BlackRock is not buying.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/blackrock-says-no-to-credit-suisse-are-their-books-so-bad\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-19T12:44:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/BlackRock-Credit-Suisse.png\" \/>\n\t<meta property=\"og:image:width\" content=\"740\" \/>\n\t<meta property=\"og:image:height\" content=\"416\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/blackrock-says-no-to-credit-suisse-are-their-books-so-bad\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/blackrock-says-no-to-credit-suisse-are-their-books-so-bad\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"BlackRock Says No To Credit Suisse &#8211; 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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