Charles Hoskinson spoke about his experience with a struggling Swiss bank. In 2014, when Hoskinson was one of the leaders of Ethereum, Credit Suisse refused to open an account. Bank officials explained this by saying that cryptocurrencies are too risky and unstable.
“This is what Credit Suisse told me: “Cryptocurrencies are too dangerous, and dealing with them can ruin the reputation of the bank. We have been in the market for over 150 years, so we will not put ourselves at risk.” Oh miracle! Now rival bank UBS has agreed to buy Credit Suisse if the Swiss government backs it,” Hoskinson gloats.
The head of Cardano states that the cryptocurrency market manages to stay afloat and grow, while many banks fail. Moreover, their problems have nothing to do with cryptocurrencies or blockchain, Hoskinson is convinced.
Ironically, a few years ago, Credit Suisse CEO Tidjane Thiam called bitcoin a speculation and a bubble that would soon collapse.
Source: Bits
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