Amid a wide-reaching financial crisis that has affected several banking giants, including Credit Suisse (SWX: CSGN), which had to be sold to survive, the cryptocurrency market seems to be holding just fine, and Cardano (ADA) founder Charles Hoskinson shared an anecdote involving his experience with the now-struggling bank.
As it happens, Credit Suisse refused to open an account for Hoskinson back in 2014, when he was the CEO of Ethereum (ETH) and based in Switzerland, with the explanation that cryptocurrencies were too dangerous and unstable to work with, as he retold the story in his podcast streamed on March 20.
Specifically, the Cardano founder pointed out the irony of all the troubles that Credit Suisse, and the banking sector as a whole, was going through currently, in the context of its disapproving attitude toward crypto and Hoskinson himself nine years before:
“The Credit Suisse people said, ‘oh, too dangerous, crypto, we couldn’t possibly consider, it would be so unstable, and so terrible, and we have a reputation to protect, we’re here for the long term, we’ve been here for over 150 years, and we couldn’t embrace this crypto thing,’ and lo and behold, who’s buying Credit Suisse – UBS – only if the Swiss government bails them out.”
