TrueUSD bank FlowBank forced into bankruptcy
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FINMA claims that FlowBank “no longer has sufficient capital for its operations as a bank” and says it’s worried the bank is “over-indebted.”
FINMA claims that FlowBank “no longer has sufficient capital for its operations as a bank” and says it’s worried the bank is “over-indebted.”
The frozen assets were held in digital asset bank Sygnum and belonged to Kwon and other Terraform Labs executives.
The Swiss government has responded favorably to a referendum to enshrine cash in the nation’s constitution, with a draft expected in August.