A Chinese blockchain entrepreneur wanted to transform Credit Suisse into a crypto-friendly bank. He offered $1.5 billion on Twitter to acquire the troubled Swiss bank.
Justin Sun, the founder of the crypto project «Tron», wanted to bid for Credit Suisse. The crypto entrepreneur wrote in a Twitter post on Sunday that he had an idea for the struggling credit institution if the takeover by UBS did not materialize.
Sun said UBS's initial offer falls short and described his plans to integrate Credit Suisse with blockchain technology and cryptocurrency. He also praised crypto-friendly regulation in Switzerland.
Integration into Web 3.0
«I would like to propose my own offer of $1.5 billion to acquire Credit Suisse and integrate it into the Web3.0 world. Switzerland has been one of the most crypto-friendly countries in the world,» he tweeted. «By acquiring Credit Suisse and transforming it into a crypto-friendly financial institution, we can create a new standard for financial innovation that benefits everyone,» he added in the thread.
While it remained unclear on Twitter how serious Sun was about his offer and whether Swiss regulators would even consider it. But the Chinese crypto investor has a history of making offers for deals that fell through.
