Major coins traded in the red on Wednesday evening as investors reacted to the possibility of a European banking crisis arising from worries surrounding Credit Suisse Group
Switzerland's Financial Market Supervisory Authority (FINMA) and Swiss National Bank (SNB) released a joint statement in response to the recent market turmoil caused by certain banks in the U.S.
What Happened: The statement confirmed the problems faced by U.S. banks do not pose a direct risk of contagion for Swiss financial markets.