April 6, 2021 Biz in 60

Business in 60 Seconds

Cryptocurrency market capitalisation tops $2T for first time The total value of the entire cryptocurrency market has topped $2 trillion for the first time, following a recent rally in prices of bitcoin and some other tokens. Bitcoin has surged by more than 100 percent this year with a growing number of financial institutions adding it to their portfolios. The world's most popular digital coin now represents over half of the market's total value. Credit Suisse removes two execs after $4.7B Archegos losses Credit Suisse is overhauling its executive ranks after revealing a $4.7 billion dollar loss linked to the collapse of Archegos Capital. The Swiss lender says its top investment banker, Brian Chin and chief risk officer, Lara Warner are stepping down. The Archegos fallout is the second scandal to hit the bank in just over a month, after the blow-up of Greensill Capital. EU regulatory official links AstraZeneca vaccine, thrombosis A top official in the European Medicines Agency has said that there is a link between the AstraZeneca coronavirus vaccine and blood clots. The UK, Norway and some other European countries have reported multiple deaths from blood clots among recipients of the vaccine.The EMA has previously declared that the benefits outweigh the risks and it should remain in use.