To The Moon

$Credit Suisse Group AG(CS)$ a major Swiss bank, plunged over 20% premarket. It is facing financial difficulties and a loss of investor confidence. 1) Liquidity risk The bank is also reportedly facing widening credit default swap spreads, which is a sign of increased investor concern about its ability to meet its financial obligations. In late 2022 the bank disclosed that it was seeing “significantly higher withdrawals of cash deposits, non-renewal of maturing time deposits and net asset outflows at levels that substantially exceeded the rates incurred in the third quarter of 2022.” Credit Suisse saw customer withdrawals of more than 110 billion Swiss francs in the fourth quarter, as a string of scandals, legacy risk and compliance failures continued to plague it. 2) Credit Suisse’s biggest backer, Saudi National Bank, said it won’t provide further financial help for the bank. The Saudi Arabian-backed investor Olayan Group has reportedly ruled out providing further assistance to the bank, which has contributed to a drop in the bank's share price. Saudi National Bank was a cornerstone investor in Credit Suisse's fundraising process, holding a 9.9 percent stake in Credit Suisse, making it its largest shareholder. 3) Veteran strategist Neelkanth Mishra is said to be poised to leave the bank Mishra has been with the bank for more than a decade and is a well-respected figure in the finance industry, so his departure could be seen as a blow to the bank's reputation. Overall, it appears that Credit Suisse is facing a challenging period as it seeks to address its financial issues and regain the confidence of investors. How do you view Credit Suisse's crisis? Is it a another consequence of SVB crash? What trading strategy do you have: bottom or short the share? Join our topic to win tiger coins~