SNEAK PEEK
- On October 4, Justin Sun announced in a tweet that he is considering purchasing assets or stock.
- Many people think that if Credit Suisse’s credit default swaps (CDS) rise over the level seen during the 2008 financial crisis, another Lehman Brothers could happen.
- Instead of traditional markets, he is more interested in crypto-related acquisitions.
Justin Sun, the founder of Tron, showed interest in purchasing stock or assets from Credit Suisse on Tuesday. He added that the international investment bank would be added to the Web3 ecosystem. Credit default swaps (CDS) are at a 14-year high, putting pressure on Credit Suisse from the market.
On October 4, Justin Sun announced in a tweet that he is considering purchasing assets or stock in the major international investment bank Credit Suisse. Additionally, he discovers a chance to invite the investment bank to Web3.
Recent interest in purchasing Twitter from the founder of Tron outbids Elon Musk’s $54.20 per share buyout offer. After FTX expressed interest in the cryptocurrency exchange, Justin Sun also moved in to purchase Huobi. They have had to rethink their choices, nevertheless, due to the challenging market conditions.
Assets managed by Credit Suisse and Deutsche Bank total $2.8 trillion. Many people think that if Credit Suisse’s credit default swaps (CDS) rise over the level seen during the 2008 financial crisis, another Lehman Brothers could happen. Since the financial crisis of 2008, shares of Credit Suisse and Deutsche Bank have fallen steadily and never recovered.
Top Wall Street banks believe that Top Wall Street institutions believe the investment bank’s problems are not as serious as what social media rumours and its CDS suggest. Others are keeping a careful eye on the issue, while JPMorgan describes Credit Suisse’s capital as “healthy.”
In the midst of worrying inflation, rising oil prices, and a slowing global economy, difficulties are already present. As the stock and cryptocurrency markets fail to rebound, there is a chance for a global recession. A recession might raise fears if Credit Suisse were to fail.
Despite Justin Sun’s speculation about purchasing Credit Suisse stock or assets, he made a similar claim about Chinese real estate behemoth Evergrande last year. Instead of traditional markets, he is more interested in crypto-related acquisitions.
