Instead of failing because Bitcoin made banking services obsolete, Credit Suisse failed because it wasn’t good at being a bank. gckaloudis writes for The Node.
liquidity injection from the Swiss National Bank proved insufficient to buoy the bank’s operations once the Saudi National Bank said it wouldn’t provide any more assistance.by the long arm of the Swiss government. This time the government needed UBS to lend a helping hand.
There are many financial system and banking system takes to be had here, but here’s a crypto-focused one. Despite its lofty side quest to disrupt finance, it wasn’t crypto that upended these banks and it certainly didn’t upend Credit Suisse. Bankers were so busy laughing at crypto's unraveling they didn't realize their banks were also unraveling.
Instead of failing because Bitcoin made banking services obsolete, Credit Suisse failed because it wasn’t good at being a bank. Remember in 2021 when Credit Suisse took
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