Tron’s Justin Sun Wants to Buy Credit Suisse for $1.5 Billion – Credit Suisse Group (NYSE:CS)

justin sun, founder of Huobi crypto exchange, offered to acquire Credit Suisse AG C for $1.5 billion.

What happened: Sun wrote in a series of tweets on March 19: “I would like to propose my $1.5 billion offer to acquire Credit Suisse and integrate it into the Web 3.0 world. Switzerland is one of the most crypto-friendly countries in the world. There has been one.”

Sun is also its founder and CEO. tron (CRYPTO: TRON), is a blockchain-based digital platform that primarily hosts entertainment applications.

See more, Top Indian Apps That Offer Bitcoin, NFT Rewards

ubs group UBSHowever, it has agreed to pay 3 billion Swiss francs ($3.25 billion) in stock to acquire Credit Suisse.

credit suisse shareholders It will receive 1 UBS share for every 22.48 Credit Suisse shares, equivalent to a purchase price of 0.76 Swiss francs ($0.82) per share, a discount of about 60% from Credit Suisse’s closing price on Friday.

It remains to be seen whether Credit Suisse and the Swiss government will consider Sun’s offer.

Benzinga did not immediately get a response from Sun or Credit Suisse for comment on the story.

Price Action: At the time of writing, ETH was trading at $1,717, up 3.43% over the past 24 hours. According to Benzinga Pro.

Read more: Bitcoin, Ethereum, Dogecoin Rise Amid Tight Labor Market: Analyst Says Cryptoverse ‘May Look More Attractive’ Than Equities

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