Swiss Financial Market Supervisory Authority closes crypto bank FlowBank and initiates bankruptcy proceedings
The Swiss Financial Market Supervisory Authority (FINMA) has decided to shut down FlowBank, a Swiss online bank that provides cryptocurrency services to customers. The regulatory agency stated that the bank no longer has enough capital to sustain its banking operations, and there are sufficient reasons to be concerned about the bank's current excessive debt and lack of prospects for restructuring. It is reported that the Swiss law firm Walder Wyss has been appointed by FINMA as the liquidator for the bank.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CandyBomb x DGAI: Trade to share 60,000 USDT
CandyBomb x DEBIT: Trade to share 45,000 USDT
Bitget Will Support the BounceBit (BB) Contract Swap
Hold USDGO for dual perks, earn up to 30%+ APR!
Crypto prices
More
