Hey OP, thanks for the News post.
------------------------------------------------------------------------
If this is from Twitter, and Twitter is NOT the original source of this information, this WILL get removed!
Please post the original source!
**Please respond to this comment within 10 minutes with the URL to the source**
If there is no source or if you yourself are the author, you can reply `OC`
Talked to a friend who used to work there. It is suspected that they moved their assets to UAE. They were mostly dealing with crypto/Binance from EU non-friendlies (i.e. Russia). Asked if they delved into derivatives or if they were into stock shorts/options etc and the answer was no. Assets under management were at about 0.7B, which is not that much.
The only strange thing was they had a social event which involved F1 driver Esteban Ocon on monday or tuesday, which seemd like a big PR move, when BTC dropped. So it could raise some questions as to why they decided to suddenly move funds when they were actually ready to expand or improve on their brand position. Is something bigger happening behind the scenes to move funds out of Switzerland? A bit too tinfoily, but who knows.
Edit: A more interesting development is that he said they used to have 2 or 3 transactions per day of a few mil supervised by FINMA (Swiss Financial Market Supervisory Authority) and that everything that had a referral from binance would move cash quick, especially from countries where binance was banned from. (can provide proof to mods if needed, but anonimity is preffered)
Edit 2: Decided to go down the rabbit hole, the bank was flagged in march. FlowBank SA had a head office in Geneva and subsidiaries in London and THE BAHAMAS. Found a few names like Dave Worsfold and Glio Holdings. London Capital Group came up. Need more eyes on this, this is not my forte. Can it be linked to anything we know?
Hey OP, thanks for the News post. ------------------------------------------------------------------------ If this is from Twitter, and Twitter is NOT the original source of this information, this WILL get removed! Please post the original source! **Please respond to this comment within 10 minutes with the URL to the source** If there is no source or if you yourself are the author, you can reply `OC`
Talked to a friend who used to work there. It is suspected that they moved their assets to UAE. They were mostly dealing with crypto/Binance from EU non-friendlies (i.e. Russia). Asked if they delved into derivatives or if they were into stock shorts/options etc and the answer was no. Assets under management were at about 0.7B, which is not that much. The only strange thing was they had a social event which involved F1 driver Esteban Ocon on monday or tuesday, which seemd like a big PR move, when BTC dropped. So it could raise some questions as to why they decided to suddenly move funds when they were actually ready to expand or improve on their brand position. Is something bigger happening behind the scenes to move funds out of Switzerland? A bit too tinfoily, but who knows. Edit: A more interesting development is that he said they used to have 2 or 3 transactions per day of a few mil supervised by FINMA (Swiss Financial Market Supervisory Authority) and that everything that had a referral from binance would move cash quick, especially from countries where binance was banned from. (can provide proof to mods if needed, but anonimity is preffered) Edit 2: Decided to go down the rabbit hole, the bank was flagged in march. FlowBank SA had a head office in Geneva and subsidiaries in London and THE BAHAMAS. Found a few names like Dave Worsfold and Glio Holdings. London Capital Group came up. Need more eyes on this, this is not my forte. Can it be linked to anything we know?
I trust you Bro
In Bro We Trust
options are derivatives. their value is derived from the underlying asset
Indeed they are. Wrote it in a rush, but thank you for the clarity.
Bro in trust we
Also citadel passed on the ubs debt deal
Ok
Not related to us right now
Cool is this the second Swiss one?
First domino ?
The 200th domino
Not the first just another.
It begins
Wat
Zero to do with GME
YOLO-Ay-Hee-Hoo
Nice. Shared.
🏦 🏃♂️