Justin Sun, founder of TRON, is willing to pay $1.5 billion for one of Europe's largest investment banks, Credit Suisse, to "integrate it into the Web3 world."
The leading contender to buy the organization is financial giant UBS, which has offered $2 billion.
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Sun has said:
"My vision for the future of finance involves embracing the potential of blockchain technology and cryptocurrencies. By integrating Credit Suisse into a crypto-friendly financial institution, we can pave the way for a more innovative and decentralized financial system."
Justin Sun has also pointed to the favorable regulatory landscape in Switzerland. According to him, in such a place it is possible to create "a new standard of financial innovation that benefits everyone."
Credit Suisse unexpectedly lost more than 15% of its stock market value on March 15, which led to the bank being rescued by the Swiss National Bank.