Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n
The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n
UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n
The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n
UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
By using this API, traders can set up automated systems to execute trades based on real-time market data and predefined parameters, eliminating the need for constant manual monitoring. The company explained that the new offering enables the user to automate their trading and react swiftly to market changes.<\/p>\n","post_title":"Robinhood Expands Crypto Portfolio With $200M Bitstamp Acquisition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-expands-crypto-portfolio-with-200m-bitstamp-acquisition","to_ping":"","pinged":"","post_modified":"2024-06-10 03:25:18","post_modified_gmt":"2024-06-09 17:25:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17295","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17300,"post_author":"1","post_date":"2024-06-10 03:13:16","post_date_gmt":"2024-06-09 17:13:16","post_content":"\n Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Recently, Robinhood launched an application programming interface (API)<\/a> for US traders, Cointelegraph reported. This API promises to enhance the trading experience by offering automation and real-time market interaction.<\/p>\n\n\n\n By using this API, traders can set up automated systems to execute trades based on real-time market data and predefined parameters, eliminating the need for constant manual monitoring. The company explained that the new offering enables the user to automate their trading and react swiftly to market changes.<\/p>\n","post_title":"Robinhood Expands Crypto Portfolio With $200M Bitstamp Acquisition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-expands-crypto-portfolio-with-200m-bitstamp-acquisition","to_ping":"","pinged":"","post_modified":"2024-06-10 03:25:18","post_modified_gmt":"2024-06-09 17:25:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17295","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17300,"post_author":"1","post_date":"2024-06-10 03:13:16","post_date_gmt":"2024-06-09 17:13:16","post_content":"\n Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The transaction, expected to close in the first half of 2025, has Barclays Capital advising Robinhood and Galaxy Digital representing Bitstamp. Robinhood's stock has already surged 69% this year, fueled by its focus on profitable growth and the rising wave of retail trading and crypto adoption. Analysts believe that the Bitstamp deal will bolster Robinhood's market position and drive future gains.<\/p>\n\n\n\n Recently, Robinhood launched an application programming interface (API)<\/a> for US traders, Cointelegraph reported. This API promises to enhance the trading experience by offering automation and real-time market interaction.<\/p>\n\n\n\n By using this API, traders can set up automated systems to execute trades based on real-time market data and predefined parameters, eliminating the need for constant manual monitoring. The company explained that the new offering enables the user to automate their trading and react swiftly to market changes.<\/p>\n","post_title":"Robinhood Expands Crypto Portfolio With $200M Bitstamp Acquisition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-expands-crypto-portfolio-with-200m-bitstamp-acquisition","to_ping":"","pinged":"","post_modified":"2024-06-10 03:25:18","post_modified_gmt":"2024-06-09 17:25:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17295","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17300,"post_author":"1","post_date":"2024-06-10 03:13:16","post_date_gmt":"2024-06-09 17:13:16","post_content":"\n Customers Bank has ended relationships with several crypto hedge funds, according to multiple sources cited by CoinDesk. This action highlights the ongoing challenges faced by crypto companies in accessing reliable banking services. Crypto banking continues to shift, signaling a cautious approach to managing risks in the volatile digital asset space.<\/p>\n\n\n\n Sources claim that Customers Bank's latest decision<\/a> targeted inactive accounts as part of routine housekeeping. The bank's goal appears to be streamlining its client base rather than initiating a sweeping de-banking across the industry. Another source mentioned that numerous funds have already started searching for new banking partners, potentially in response to Customers Bank's latest actions.<\/p>\n\n\n\n Customers Bank, known for servicing high-profile crypto entities like Galaxy Digital, Coinbase, and Circle, has also implemented a cap on deposits from crypto clients. This policy limits digital asset deposits to 15% of the bank's total deposits, a measure intended to mitigate risk. At the end of the first quarter, the bank reported total deposits of approximately $18 billion, with $2 billion coming from its crypto-focused instant payment platform, CBIT.<\/p>\n\n\n\n See Related: <\/em><\/strong>Goldman Hedge Funds Report: Established Titans Thrive as Newcomers Struggle<\/a><\/p>\n\n\n\n The current move by Customers Bank underscores the broader difficulties crypto companies face in securing stable banking relationships, especially following the collapse of Silvergate Bank and Signature Bank. Both institutions were pivotal in providing banking services to the crypto industry, and their absence has left a significant gap.<\/p>\n\n\n\n Customers Bank, based in West Reading, Pennsylvania, and owned by Customers Bancorp, exclusively deals in US dollars and refrains from accepting cryptocurrency deposits or extending loans for crypto activities. Despite this, it has carved out a niche with its CBIT platform, which facilitates 24\/7 US dollar payments for digital asset firms.<\/p>\n\n\n\n As Customers Bank narrows its client base and enforces stricter caps on crypto-related deposits, hedge funds in the digital asset space are being compelled to seek alternative banking solutions. This trend highlights a growing need for crypto companies to find stable, reliable banking partners in an increasingly cautious and regulated financial environment.<\/p>\n\n\n\n The evolving policies of institutions like Customers Bank reflect a delicate balance between leveraging the lucrative opportunities within the crypto sector and mitigating the inherent risks. For now, crypto hedge funds must navigate these changes, continuously adapting to the shifting financial landscape.<\/p>\n","post_title":"Customers Bank Offboards Crypto Funds, Caps Deposits over Risk Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"customers-bank-offboards-crypto-funds-caps-deposits-over-risk-concerns","to_ping":"","pinged":"","post_modified":"2024-06-10 03:13:21","post_modified_gmt":"2024-06-09 17:13:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17300","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\nIntegration Challenges and Opportunities<\/h2>\n\n\n\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Capping Crypto Exposure<\/h2>\n\n\n\n
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Integration Challenges and Opportunities<\/h2>\n\n\n\n
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Capping Crypto Exposure<\/h2>\n\n\n\n
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