
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.
We are the entrepreneurial and innovative Bank for financial intermediaries and professional clients. Our aim is to make your life easier. We offer you all banking services as a modular concept from a single source.
Digitalisation is part of our essence, just like personal contact with our clients. You will benefit from the streamlined processes and the long-term strategic direction of our family-run universal bank – since 1998.
Bank Frick congratulates Celine Bittner for receiving the scholarship of CHF 9'800.
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.
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.
Ever since the dawn of time, human beings have hunted and gathered, collecting the things they discovered and making them their own. This was when the concept of ownable assets first emerged, albeit in rudimentary form. Since then, assets have evolved and become more complex as humans have found more reliable ways to connect assets to people. Today, people enter into legal contracts when transferring assets.
Bank Frick will be closed over the holidays from Saturday, 24 December 2022 to Monday, 26 December 2022 inclusive. The following week, Bank Frick will be closed from Saturday, 31 December 2022 to Monday, 2 January 2023 inclusive. Bank Frick will also be closed on Friday, 6 January 2023.
As those affected by the collapse of FTX rejoice over the recent arrest of Sam Bankman-Fried (SBF), the CEO of Binance is currently dealing with fear, uncertainty, and doubt (FUD) targeted at his cryptocurrency exchange. In a tweet, CZ asked the community to ignore the FUD. “FUD helps us grow. [...]. There has hardly been a week going by without some FUD. We learned the ability to ignore them and keep building,” he said.
The FTX’s collapse and its consequences continue to unravel. Venture capital company Digital Currency Group (DCG) could be the latest victim following the current mayhem. Based on a letter to investors, the company has disclosed a $2 billion debt, which mostly consists of intercompany loans between it and its subsidiary Genesis Global Capital.
Last week, the digital asset space got shaken to its core, when the world’s second biggest crypto exchange FTX collapsed overnight. After all, this collapse marks the largest meltdown in the crypto world. The exchange, which bailed out several companies in the wake of the Terra Luna and 3AC collapse earlier this year, has fallen apart so fast and hard, that experts expect the ripple effects to continue in the coming months.
So, what exactly happened?
Foundational technology is the most effective tool for impacting society at large and solving the challenges it is faced with. One such foundational institutional technology is the blockchain, which entered the picture through the discovery of Bitcoin in 2009 and has since proliferated and emerged in many different forms.
What does blockchain’s social impact look like?
Die Krypto-Assets unserer Kundinnen und Kunden verwahrt Bank Frick in sogenannten Cold-Storage-Wallets. Diese sind physisch vom Internet getrennt. Wallets und Sicherheitskopien werden georedundant sicher aufbewahrt.
Founded in 1998 by Kuno Frick, Bank Frick continues to be a family-run business. With the Frick family as the owners, the responsibilities are clear. This also guarantees the prudent further development of the institute.
We were the first bank in Europe to enable the trading and secure custody of crypto assets in the regulated environment. Every day, we think about which innovations we could provide to take you further: loan securitisations on the blockchain, tokenised funds or block orders in online banking.
When it comes to assets, stability and security are what counts. These are offered by Bank Frick as well as by our homeland: Liechtenstein sets itself apart through its solid surpluses, the strong Swiss franc as the national currency and its political stability.
Do you want to grow with our bank? We offer excellent prospects for curious students, motivated new starters, ambitious graduates and experienced specialists and managers.
Bank Frick meets focuses on conveying know-how on various topics: From blockchain technology and practical best-case examples to topics from the traditional world of finance.
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