{"id":75915,"date":"2023-03-21T13:34:06","date_gmt":"2023-03-21T11:34:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75915"},"modified":"2025-09-10T14:22:46","modified_gmt":"2025-09-10T11:22:46","slug":"justin-sun-offers-1-5-billion-for-credit-suisse","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/justin-sun-offers-1-5-billion-for-credit-suisse\/","title":{"rendered":"Justin Sun offers $1.5 billion for Credit Suisse"},"content":{"rendered":"<p>The founder <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tron-trx\">Tron<\/a> Justin Sun is prepared to pay $1.5 billion for one of Europe\u2019s largest investment banks, Credit Suisse, to &#8220;integrate it into the Web3 world.&#8221;<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/UBS?ref_src=twsrc%5Etfw\">@UBS<\/a>&#8216;s bid for <a href=\"https:\/\/twitter.com\/CreditSuisse?ref_src=twsrc%5Etfw\">@CreditSuisse<\/a> falls short. I would like to propose my own offer of $1.5 billion to acquire Credit Suisse and integrate it into the Web3.0 world. Switzerland has been one of the most crypto-friendly countries in the world.<\/p>\n<p>\u2014 H.E. Justin Sun \u5b59\u5b87\u6668 (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1637480697093926914?ref_src=twsrc%5Etfw\">March 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The leading bidder to acquire the group is financial giant UBS, which <a href=\"https:\/\/www.ft.com\/content\/ec4be743-052a-4381-a923-c2fbd7ea9cfd\">has offered $2 billion<\/a>. If the deal does not go through, Sun intends to turn Credit Suisse into a crypto-friendly organization.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">My vision for the future of finance involves embracing the potential of blockchain technology and cryptocurrencies. By integrating Credit Suisse into a crypto-friendly financial institution, we can pave the way for a more innovative and decentralized financial system.<\/p>\n<p>\u2014 H.E. Justin Sun \u5b59\u5b87\u6668 (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1637480861124775936?ref_src=twsrc%5Etfw\">March 19, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMy vision for the future of the financial sector involves leveraging the potential of blockchain technology and digital assets. By turning Credit Suisse into a crypto-friendly bank, we can pave the way for a more innovative and decentralised economic system,\u201d \u2014 writes the head of Tron.<\/p>\n<\/blockquote>\n<p>Sun also noted the favorable regulatory landscape in Switzerland. In his view, such a place could create a \u201cnew standard for financial innovation that will benefit everyone.\u201d<\/p>\n<p>On March 15, Credit Suisse shares unexpectedly <a href=\"https:\/\/forklog.com\/en\/news\/stock-market-fears-credit-suisse-collapse-bitcoin-remains-resilient\">fell by more than 15%<\/a>, and the drop from <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> reached 98%.<\/p>\n<p>This situation forced Credit Suisse to consider a $53 billion loan from the Swiss National Bank.<\/p>\n<p>At the time of writing, the bank\u2019s securities were trading at $0.94. According to TradingView, over the past 24 hours their price had plunged by almost 53%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"213\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-572-1024x213.png\" alt=\"image1-572\" class=\"wp-image-201870\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-572-1024x213.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image1-572-300x62.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image1-572-768x160.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/image1-572.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: TradingView.<\/figcaption><\/figure>\n<p>Earlier, in the wake of <a href=\"https:\/\/forklog.com\/en\/news\/venture-capital-investors-distance-themselves-from-silicon-valley-bank-amid-liquidity-concerns\">the collapse of Silicon Valley Bank<\/a>, the founder of Tron said there was a need to create a \u201creliable bank\u201d for the crypto industry. Sun, in turn, offered to provide \u201cfinancing, governance and operational support.\u201d<\/p>\n<p>Earlier in March 2023, former Belgian finance minister Johan Van Overtveldt called for banning digital assets. He argued that the fallout from the collapse of crypto-friendly American banks had negatively affected the EU&#8217;s financial sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founder of Tron Justin Sun is willing to pay $1.5 billion for one of Europe\u2019s largest investment banks, Credit Suisse, to \u201cintegrate it into the Web3 world.\u201d<\/p>\n","protected":false},"author":1,"featured_media":75916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,487,1302],"class_list":["post-75915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-credit-suisse","tag-justin-sun"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=75915"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75915\/revisions"}],"predecessor-version":[{"id":75917,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75915\/revisions\/75917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75916"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}