Switzerland's Financial Market Supervisory Authority (FINMA) and Swiss National Bank (SNB) released a joint statement in response to the recent market turmoil caused by certain banks in the U.S.
What Happened: The statement confirmed the problems faced by U.S. banks do not pose a direct risk of contagion for Swiss financial markets.
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Kraken, a well-known cryptocurrency exchange, recently made the decision to terminate its relationship with Silvergate Capital Corp (NYSE: SI), following the bank's recent acknowledgment of potential insolvency.