Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Apollo Global Management (NYSE:APO) is reportedly looking to buy a stake in Credit Suisse Group Inc's (NYSE:CS) revamped investment bank.
- Credit Suisse said last year that it would split off its investment bank into an independent capital market & advisory bank called CS First Boston.
- The troubled bank said it would raise outside capital to launch the new entity, which it hopes to list in a separate initial public offering eventually.
- The talks with Apollo are continuing and could still fall apart, Wall Street Journal reported.
- An investment in CS First Boston would represent another level of commitment from Apollo, which had previously agreed to take over Credit Suisse's securitized-products group, which packages and resells debt. The size of the potential stake is unknown.
- Credit Suisse said it had secured $500 million from an unnamed investor last year. Chairman Axel Lehmann said in December that a few offers were ongoing to help finance CS First Boston's leveraged-finance business.
- The revived CS First Boston will focus on parts of the investment-banking business that require less capital, such as advising companies on mergers and acquisitions.
- Credit Suisse has said it would keep some markets-trading businesses to assist its wealthy clients, divest the securitized products division to Apollo and move other businesses to a non-core unit.
- Bond manager Pacific Investment Management Co is also considering taking a stake in the securitized-products business, WSJ reported citing people familiar with the matter.
- Price Action: CS shares are up 0.28% at $3.53 during the premarket session on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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