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
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.
Celsius Drama: Crypto lenders in trouble
Following the publication of yet another 40-year record CPI print of 8.6% in the US on June 10th, the crypto markets corrected heavily. And with prices coming down significantly, the current bear market took its next toll. New York-based crypto lending company Celsius Network saw its own token correct more than 50% in a few hours.
Terra relaunch: Rising phoenix or a burning out flame?
After the epic Terra ecosystem collapse with LUNA and UST going to virtually zero, the project was recently relaunched according to a pre-set revival plan. Following a vote, over 65% of all community members voted in favour of starting Terra as a completely new blockchain.
UST collapse: Deathblow for algorithmic stablecoins?
In an epic but tragic demise, algorithmic stablecoin TerraUSD lost its pegging. This sent LUNA onto a death spiral to zero dragging down the entire Terra Luna ecosystem with it.
Are crypto projects winning against the US regulator?
The popular instant messaging app Telegram has integrated Bitcoin as well as its cryptocurrency called Toncoin. Users of the app can now send and receive either Bitcoin or Toncoin.
Bank Frick expands its range of crypto assets and now offers trading and custodian services for Cardano, Polkadot and Tezos
Europe’s blockchain pioneer has expanded the range of cryptocurrencies for which it offers trading and custodian services. Bank Frick now offers financial intermediaries and professional clients the option of trading in and secure custody of Cardano (ADA), Polkadot (DOT) and Tezos (XTZ) coins. Trading takes place within the fully regulated environment of the Bank.
Marianne Müller new on the Board of Directors
The Board of Directors (BoD) of Bank Frick has appointed Marianne Müller as a new member of the Board of Directors effective 1 May 2022. She brings with her great expertise in the areas of regulatory affairs, compliance and financial market supervision.
Setting a Precedent: Uniswap gets sued
For the first time in its history, decentralised exchange (DEX) protocol Uniswap is faced with a class-action lawsuit. Initiated by an individual called Nessa Risely, who lost a lot of money using crypto’s most famous DEX, two U.S. law firms have joined the action and invited anyone that has lost money as well trading on Uniswap to join the class action lawsuit.
Annual Report Bank Frick 2021: Annual profit more than doubled
Bank Frick closes 2021 with an excellent annual profit of CHF 9.8 million. Net income increased again and client assets under management also grew in the reporting period. All the business segments contributed to the strong annual result. In order to further improve service to clients and be prepared for the future, resources were created and the front departments reorganised.
EU is on the verge of adopting controversial cryptocurrency legislation
It was taken as a huge relief within the crypto space: The much-discussed proposal to ban Proof-of-Work (PoW) based cryptocurrencies was recently rejected in the EU Parliament. Soon after though, the next wave of trouble came rolling in.