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What's happening to Credit Suisse and it’s impact on Crypto, An ELI5 Thread.
#CreditSuisse is one of the 9 global "Bulge Bracket" banks, the 9 largest multi-national banks in the world.
And it is at a 'Critical Moment' now, says the CEO.
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#CreditSuisse is one of the 9 global "Bulge Bracket" banks, the 9 largest multi-national banks in the world.
And it is at a 'Critical Moment' now, says the CEO.
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Credit Suisse is considered to be a global systemically important bank, meaning that in the case of their failure, there will be a financial crisis on a global scale.
They are referred to as "too big to fail", like the #LehmanBrothers. Now their situation reminds us of 2008.
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They are referred to as "too big to fail", like the #LehmanBrothers. Now their situation reminds us of 2008.
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Talking history, Credit Suisse was founded in 1856 to fund the development of Switzerland's rail system. In the 1900s, it began shifting to retail banking. It is known for strict bank–client confidentiality and banking secrecy.
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