financial results in their 167-year history of course, it does follow on from that weekend selloff they had where they had to sell the company off to their biggest rival,ing that being a the u.s the con sum nation we saw of the entire purchase will probably be completed by the end of this year, but bringing the two businesses together, ubs and credit suisse, may take three to four years those synergies will be factored in we just pointed out northeasterly $17 billion loss when it comes to the asset, a net annual loss of $7.3 billion swiss francs as well in 2022 the numbers are staggering here. they really, really are high the bank attempting what is a massive strategic overa haul, of course, over the last couple of months it just hasn t worked, however,
to the collapsed crypto exchange ftx now because there could be some good news for the millions of people unable to access their investments. according to a lawyer for ftx some $7 billion worth of cash and liquid cryptocurrency assets have now been recovered. carol alexander is a professor of finance and a crypro currency expert at the university of sussex. how do you suddenly find yourself? it is not sudden, it has taken months and the illegal bills are mounting up. it started in november,. the box was tight that the assets were between one billion and ten billion and around 3 billion was recovered quickly. a lot of forensic accounting has had to go on and searching for crypto assets on blockchains takes a long time. they have eventually come up with the sum of 7.3 billion. have eventually come up with the sum of 7-3 billion-
colla se have its own house in order. to the collapse crypto have its own house in order. to the collapse crypto exchange have its own house in order. to the collapse crypto exchange ftx - have its own house in order. to the i collapse crypto exchange ftx because there could be good news for the millions of people unable to access their investments. according to a lawyer for ftx, their investments. according to a lawyerfor ftx, some their investments. according to a lawyer for ftx, some $7 their investments. according to a lawyerfor ftx, some $7 billion worth of cash and liquid cryptocurrency assets have been recovered. carol alexander is an expert in cryptocurrency at the university of sussex and i asked how you suddenly find $7 billion. it has taken months you suddenly find $7 billion. it has taken months under you suddenly find $7 billion. it has taken months under legal - you suddenly find $7 billion. it has taken months under legal bills - you suddenly find $7 billion. it
of 7.3 billion. let s say that is the 7 billion of 7.3 billion. let s say that is the 7 billion available. - of 7.3 billion. let s say that is the 7 billion available. what l of 7.3 billion. let s say that is - the 7 billion available. what does that mean? how likely is it that people who have invested with ftx will see any money back? that people who have invested with ftx will see any money back?- will see any money back? that is a very complex will see any money back? that is a very complex question will see any money back? that is a very complex question because - will see any money back? that is a i very complex question because there are i very complex question because there arei million creditors very complex question because there are i million creditors as customers, on top of three or 4 billion in claims, the largest creditors would be the professional traders on the exchange. some of them have accounts about 225 million i think is the biggest one, quite a few of that s
influence what we can and that s where we stand today. you were valued $7.3 billion when you listed in new york. your share price has fallen considerably since then. you are operating from europe, of course you have a strong dollar to content with and huge global players in the apparel market so how are you going to cope against the big boys and a really strong dollar? in against the big boys and a really strong dollar? in the end, it all really strong dollar? in the end, it all comes really strong dollar? in the end, it all comes to - really strong dollar? in the end, it all comes to our i really strong dollar? in the i end, it all comes to our roots which is very much performance and innovation and we have to continue to bring superior products to the market like one that we have here which is our new technology we are bringing to the market as part of the crowd server and we believe that bringing part the more sustainable innovative parts of the market that are rooted in perform