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
Is Elon Musk owning Twitter bullish for crypto?
Elon Musk’s actions have once again had repercussions for the wider crypto space. This time, Dogecoin rose by more than 70% in 24 hours, driven by the news that Musk had closed a $44 billion deal to take over Twitter. All in all, Musk’s favourite meme currency experienced a 150% surge from October 25-29.
Another day, another few hacks. That’s the current state of crypto
Crypto projects are getting hacked almost every other week and losing millions of dollars. Sadly, users are bearing the brunt of these attacks. On October 12, Solana-based DeFi platform Mango Markets confirmed that the protocol had been attacked by a hacker, who stole funds through an oracle price manipulation. Mango’s price plummeted by more than 40% as a result.
Screening crypto projects: The regulators are on it
Regulators have had a tough time keeping up with the rapidly growing crypto space that is dominated by a wide range of financial products. Nonetheless, recent developments show that they may be gaining ground signalling that crypto companies need to evaluate their compliance status now more than ever.
The Merge has happened. What are the takeaways?
The long-awaited Ethereum Merge finally shipped on September 15, 2022, fully turning Ethereum into a Proof-of-Stake (PoS) blockchain. It commenced at 6:43 a.m. UTC and attracted a live audience of over 41,000 people on YouTube that watched as the significant event unfolded. The mainnet and PoS Beacon Chain merged successfully without a hitch, but it was not a small task. “The metaphor that I use is this idea of switching out an engine from a running car,” Justin Drake, a researcher at the Ethereum Foundation, said describing the Ethereum Upgrade.
Cardano Vasil hard fork – customers do not have to take action
A hard fork will be performed on Cardano’s blockchain on 22 September 2022. Bank Frick clients do not need to take any action – their assets are safe at all times. Trading Cardano via Bank Frick will be possible without restrictions.
Ethereum is changing its consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS): Clients do not have to take action
In mid-September, Ethereum Mainnet will be merged with Beacon Chain. “The merge” marks Ethereum’s final transition from a Proof-of-Work (PoW) system to a Proof-of-Stake (PoS) system.
Half-year result: Continuous growth by Bank Frick – despite uncertainties about the global economy
In the first half of 2022, Bank Frick generated a net profit of CHF 5.1 million, with all strategic business segments contributing to this positive result. Despite the currently prevailing uncertainty stemming from the unstable economic situation, Bank Frick succeeded in increasing its profit compared with the first half of 2021. For 2022, the Bank therefore expects an annual profit in the order of CHF 8 million.
Blockchain - about more than cryptocurrencies
Whether in cybersecurity, supply chain management, new asset classes or insurance solutions, blockchain technology is increasingly being used in areas of the real economy. The boundaries between the classic banking world and blockchain banking are becoming more fluid.
Crypto contagion goes on – for how long?
The crypto markets have been in restructuring mode for the past few weeks. As time goes on, the market is trying to figure out, who has been owing money to whom. On the borrowing side, Singapore-based crypto hedge fund Three Arrows Capital (3AC) seems to have many open credit relations – too many. The company has already filed for bankruptcy.
How blockchain technology protects us from bad actors in our digital future
The blockchain industry has experienced significant growth in the last couple of years as one unicorn after another sprouts from the soil that grows crypto start-ups. In this new series of blog posts and webinars, we take a closer look at the technology and explore why it is so successful and why everybody is talking about it. We also look beyond the speculative aspect that blockchain is so frequently associated with and focus on the real-world problems that the technology is poised to solve.
Digital payment processing – old payment slips invalid from 30. September 2022
In Switzerland and Liechtenstein, payments using the red (ES) and orange (ESR) payment slips will no longer be possible from 30 September 2022.
Solend – Governance debacle or necessary evil?
The world of decentralised finance (DeFi) is having a rough time. Token values have dropped significantly, and one of its popular projects – Terra’s algorithmic stablecoin UST – completely imploded a few weeks back. Yet another incident that shed some bad light on DeFi recently happened in the Solana ecosystem. Through a governance vote on the Solana-based lending and borrowing protocol Solend, users voted to grant “special” parties the rights to liquidate a borrower’s assets. Although the vote was conducted on-chain, there was a quirky element to it. It was launched without announcement and one wallet paid $700,000 for additional voting power, ultimately making up 90% of votes.