{"id":9966,"date":"2021-07-23T00:54:06","date_gmt":"2021-07-23T00:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/switzerlands-largest-bank-ubs-says-clients-have-crypto-fomo\/"},"modified":"2021-07-23T00:54:06","modified_gmt":"2021-07-23T00:54:06","slug":"switzerlands-largest-bank-ubs-says-clients-have-crypto-fomo","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/switzerlands-largest-bank-ubs-says-clients-have-crypto-fomo\/","title":{"rendered":"Switzerland\u2019s Largest Bank UBS Says Clients Have Crypto FOMO"},"content":{"rendered":"

UBS, Switzerland\u2019s largest bank, says that clients are looking at different investment alternatives and there is a bit of a fear of missing out (FOMO) when it comes to cryptocurrency investments.<\/strong><\/p>\n

UBS Says There Is a Bit of Fear of Missing Out<\/h2>\n

The CEO of UBS Group AG, Ralph Hamers, talked about cryptocurrency in an interview with Bloomberg\u2019s Manus Cranny, published Tuesday.<\/p>\n

Given that a growing number of investment banks are offering crypto services or investments with exposure to cryptocurrencies to their clients, he was asked what UBS is doing for its wealth management clients in terms of providing access to cryptocurrency investments.<\/p>\n

\u201cClients are looking at different alternatives,\u201d he replied. \u201cThey hear about crypto and there is a bit of a fear of missing out [FOMO] as well.\u201d<\/p>\n

The CEO elaborated:<\/p>\n

They read it in the papers but they also see the volatility so honestly we advise with caution and we don\u2019t offer it actively \u2026 We feel the crypto itself is still an untested asset category.<\/p>\n

Hamers was also asked, \u201c[Do] you have no FOMO as a CEO that maybe you are going to miss out on a few millionaires and billionaires?\u201d<\/p>\n

He insisted: \u201cI never have FOMO.\u201d<\/p>\n

<\/p>\n

The UBS executive proceeded to explain why he doesn\u2019t have FOMO. \u201cBecause I\u2019m determined as to what I want to do and it\u2019s also about focus,\u201d he began, adding that there are \u201calways these things that you hear about that maybe this or maybe that.\u201d<\/p>\n

However, he said he has learned in his eight years as a CEO \u2014 almost one year at UBS and seven with ING \u2014 that what\u2019s important is \u201cwhat we are known for\u201d and \u201cwhat we do for our clients.\u201d He concluded, \u201cthat\u2019s what we have to continue.\u201d<\/p>\n

In July, UBS advised<\/a> investors to \u201cstay clear\u201d of cryptocurrencies and \u201cbuild their portfolio around less risky assets.\u201d In addition, UBS analysts warned that \u201cRegulators have demonstrated they can and will crack down on crypto.\u201d<\/p>\n

What do you think about the comments by the CEO of UBS? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFinance, FOMO, UBS, ubs bitcoin, ubs clients, ubs crypto, ubs crypto fomo, ubs cryptocurrency<\/p>\n","protected":false},"excerpt":{"rendered":"

UBS, Switzerland\u2019s largest bank, says that clients are looking at different investment alternatives and there is a bit of a fear of missing out (FOMO) when it comes to cryptocurrency investments. UBS Says There Is a Bit of Fear of Missing Out The CEO of UBS Group AG, Ralph Hamers, talked about cryptocurrency in an…<\/p>\n","protected":false},"author":0,"featured_media":9967,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9966"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9966"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9967"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}