Zug, 20 June 2024 – Bitcoin Suisse Group, in its 2023 financial year, maintained its strategic focus on high net-worth private and institutional clients, enhanced its infrastructure despite a challenging market, and continued its cost-conscious approach. At today’s annual General Assembly in Zug, the shareholders approved the financials as presented by CFO Timo Musiol and welcomed Ani Banerjee as a new board member. Furthermore, the Board of Directors rotated its presidency to Marco Menotti, who joined the board at last year’s General Assembly. After reporting a net loss of CHF 13.0 million for 2023, Bitcoin Suisse achieved a net income of CHF 17.2 million in the first quarter of 2024, more than offsetting the previous year's losses. With a robust equity position of CHF 103.6 million, Bitcoin Suisse Group is well-positioned to capitalize on the positive market dynamics and upward trend observed since late 2023.

A strong start to 2024

At the start of 2024, Co-Founder Andrej Majcen assumed the role of Group CEO to lead the company into the next phase of accelerated growth and international expansion. Under Majcen's leadership, Bitcoin Suisse reaffirmed its commitment to its roots and core strengths, capitalizing on the growing interconnection between crypto assets and traditional financial markets. The rapidly increasing institutional interest highlighted by the launch of the new Bitcoin spot ETFs in January 2024, is a strong confirmation of Bitcoin Suisse’s strategy to leverage the deep understanding of the crypto ecosystem by building asset management capabilities. In February 2024, Bitcoin Suisse achieved significant milestones in two of its core business areas by surpassing the CHF 5 billion mark in Assets under Custody, with CHF 2 billion in assets within its staking service.

New partnerships

Responding to the increasing institutional interest and adoption, Bitcoin Suisse strengthened its position as the Swiss crypto-native pioneer by announcing important partnerships in 2023. With the renowned index solutions provider STOXX, a Deutsche Börse subsidiary, the company introduced the STOXX® Digital Asset Blue Chip index. Bitcoin Suisse also partnered with Circle, the issuer of the leading US dollar-based stablecoin USDC, to expand USDC liquidity in Europe. The company has recently announced a cooperation with the Swiss private bank Maerki Baumann & Co, which will rely on Bitcoin Suisse’s proven crypto expertise to manage its crypto investment solutions. Meanwhile, Bitcoin Suisse clients will gain access to private banking services for traditional assets.

Andrej Majcen said: "Experiencing the growth process of crypto assets since the early days both privately and professionally has equipped us with a deep understanding of the industry and allows us to extend our reach beyond the Crypto Valley. This crypto knowledge and decade-long experience position us to be the trusted partner for our crypto-native clients and for our institutional partners who seek guidance and expertise in the fast-paced and complex crypto world.”

Bitcoin Suisse remains committed to pioneering products and services, advancing crypto asset investment, and blockchain technology. We create value for clients through exceptional knowledge and services and through our ambition to be ahead and to innovate. As Switzerland's oldest crypto broker, Bitcoin Suisse stays true to its crypto-native DNA while evolving its offering to an institutional-grade portfolio.

Board of Directors

The General Assembly elected all six nominated candidates, including new board member Ani Banerjee. After thanking the shareholders for their renewed expression of trust, as well as Urs Bigger, who did not seek re-election, Luzius Meisser announced a handover of the Chairman role within the board from himself to Marco Menotti.

Marco Menotti commented: "I am excited to step into the role of Chairman at this decisive time of institutional adoption, scaling, and acceleration of the development of crypto markets. I aim to leverage our industry-leading crypto expertise and our highly skilled teams to become an internationally operating, rapidly growing, and profitable crypto authority. Our deep knowledge and proximity to the crypto industry allow us to continuously innovate and deliver industry firsts at an institutional level. With this approach, I believe we can take Bitcoin Suisse to new levels of success and continue to lead in this evolving financial landscape."

Ani Banerjee introduced himself to the shareholders assembled at the meeting, noting: “With its excellent brand and immense international potential, Bitcoin Suisse presents compelling opportunities, and I am eager to be part of the team and to contribute to the success of Bitcoin Suisse.”

Luzius Meisser commented: "I am excited to welcome Ani Banerjee to the Board, a visionary and internationally connected investor deeply rooted in the financial and crypto sector, and I am happy to hand over my duties as Chairman to Marco Menotti. Marco is the ideal person to govern our group going forward as we enter a phase of international market expansion. I am confident that the new board composition is well-suited to lead Bitcoin Suisse into a great future while staying true to its origins."

Board of Directors composition as of June 20, 2024:

• Marco Menotti, Chairman of the Board of Directors
• Luzius Meisser, Member of the Board of Directors
• Gabriela Hauser-Spühler, Member of the Board of Directors
• Giles Keating, Member of the Board of Directors
• Dr. Philipp Rösler, Member of the Board of Directors
• Ani Banerjee, Member of the Board of Directors

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About Marco Menotti

With over three decades of experience in the banking sector, Marco Menotti brings a wealth of expertise and leadership to the Board. He has held several senior leadership positions, notably serving as Head of Banking Products at UBS Switzerland, where he and his teams of experts shaped the UBS product portfolio. As of 2018, Marco Menotti demonstrated his strategic acumen at SIX Group AG as Head of Banking Services and a Member of the Executive Board. During his time there, he successfully restructured the post-remnants of a significant M&A transaction into a profitable and growing business. In 2022, Marco Menotti transitioned from the corporate world to concentrate on private investments in the technology sector, with a strong focus on cryptocurrency and artificial intelligence. His pursuit of the former led him to Bitcoin Suisse, where he has held a significant role on the board since 2023.

About Ani Banerjee

Ani Banerjee joins the Board of Directors of Bitcoin Suisse with twenty years of professional experience within the banking and investments industry. Ani spent the first twelve years of his working career in financial services at Citigroup, Cheyne Capital and BlackRock. Since 2017, he has been a private investor and board member across various companies in the crypto industry, advising them closely on strategy and corporate governance. Ani was educated at ESC Rouen, France (MS) and at Cambridge University (MBA) as well as participated in executive education programs at Oxford University (microeconomics) and at the London School of Economics (macroeconomics).