News and insights
We know how important it is to have reliable information, facts and background details as good decision-making tools. In our press releases, you can find the latest news about Bank Frick. We provide specialist knowledge about the financial market – both conventional and blockchain-based – in our in-depth blog posts. If you would like to hear exciting updates about the cryptocurrency market, then dive into our Crypto Industry Reports.
News and insights
Free Webinar: Peek into the future - disruptive blockchain and use cases
On 20 April 2023, we invite you to the free webinar «Peek into the future - disruptive blockchain and use cases». The webinar will be held in English.
Stablecoin USDC briefly lost its
peg. What do we learn from this?
One of the top stablecoins by market cap, USD Coin (USDC), de-pegged briefly from the US dollar on March 11 following the collapse of Silicon Valley Bank (SVB). Circle, the stablecoin’s issuer, held $3.3 billion in USDC reserves with the bank, which caused panic as investors rushed to withdraw their funds, assuming USDC could implode because of insufficient backing. However, the amount represented less than 8% of the stablecoin’s reserves.
Statement on Silvergate Bank
Silvergate Bank, one of our correspondent banks for USD, is, according to its own statements, facing insolvency and is planning its liquidation. We would like to point out that our clients' assets are safe at all times.
Ethereum Shanghai upgrade pushed to April: Will there be too much selling pressure?
Ethereum stakers have been eagerly awaiting the Shanghai upgrade, which will enable them to withdraw their staked ether. Stakers’ funds have been locked since Ethereum introduced the proof-of-stake Beacon Chain in December 2020. The upgrade was originally slated to take place sometime in March but was pushed by about two weeks to April during a recent execution layer meeting.
Are regulators trying to make up for it by cracking down?
Following the infamous events of 2022, US regulators are turning up the heat on crypto services and products in 2023. One of the services they have targeted recently is custodial crypto staking, a process whereby customers have a financial service provider lock up their coins with a blockchain protocol over a certain period of time in exchange for rewards. This comes as no surprise since the SEC’s chairman, Gary Gensler, previously said that crypto staking looks very similar to lending. US crypto exchanges that offer this service are, therefore, in the SEC’s line of fire.
Warning of scam company: Fraudulent letters with Bank Frick logo in circulation
We would like to point out that there is no connection between the e-mail address "finance@fricksupport[dot]info" and Bank Frick. The operators of the e-mail address "finance@fricksupport[dot]info" are making unlawful use of the name and logo of Bank Frick.
Bank Frick is now offering staking as a service for digital assets
Bank Frick is launching staking as a new service. Staking enables clients to generate passive income by holding their cryptocurrency. Staking also contributes to the stability of networks. As a fully regulated bank, Bank Frick guarantees continuity of business at all times and full control of funds. Initially, the cryptocurrencies Tezos (XTZ) and Polkadot (DOT) will be offered.
Ensuring the future of insurance with blockchain technology
The insurance market is an essential part of the global economy, covering both personal and business risks. Thus, it is no wonder that it is one of the largest industries in the world, boasting an estimated value of about USD 5 trillion and employing about 2.7 million people across the globe. Out of USD 5 trillion, around USD 3.7 trillion makes up the value of the global life insurance market, while the value of the property and casualty insurance market carries a value of USD 1.3 trillion.
Ordinals: The Bitcoin Community is divided over NFTs – yet again
Bankruptcies have become commonplace in crypto, and it almost feels like the industry and community have gotten used to it. The latest company to yield to this legal process is crypto lending firm Genesis Global Holdco, LLC. The company announced it had filed for bankruptcy through a statement dated January 19, 2023. In the statement, Genesis Global revealed that it had “filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code” together with two of its lending subsidiaries, Genesis Asia Pacific Pte. Ltd. and Genesis Global Capital, LLC.
A dose of comical things happening in crypto lately…
Bankruptcies have become commonplace in crypto, and it almost feels like the industry and community have gotten used to it. The latest company to yield to this legal process is crypto lending firm Genesis Global Holdco, LLC. The company announced it had filed for bankruptcy through a statement dated January 19, 2023. In the statement, Genesis Global revealed that it had “filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code” together with two of its lending subsidiaries, Genesis Asia Pacific Pte. Ltd. and Genesis Global Capital, LLC.
Bank Frick awards another scholarship for the Blockchain and FinTech certificate programme
Bank Frick congratulates Celine Bittner for receiving the scholarship of CHF 9'800.
The DCG, Genesis, and Grayscale Saga explained
Crypto company Digital Currency Group (DCG) is reportedly under investigation by the SEC and the DoJ’s Eastern District of New York. Interestingly, a spokesperson of the company said they were unaware of the DoJ investigation. The company, which owns trading firm Genesis and crypto wealth management company Grayscale Investments, among other subsidiaries, has been undergoing financial troubles since the collapse of FTX. The issues are tied to the fact that Genesis was an FTX creditor.