swissquote

According to CoinDesk, financial services company Swissquote Group has lowered its full-year revenue and profit expectations after a 66.2% decline in net cryptocurrency income in the first half of the year.In the first half of the year, the company's cryptocurrency trading volume fell by 63.5% to 2.58 billion Swiss francs, approximately 3.2 billion US dollars. After the announcement, Swissquote Group's stock price dropped by 14%.

ChainCatcher news, according to Bloomberg, the Swiss Financial Market Supervisory Authority (Finma) has recently intensified its regulatory scrutiny of Switzerland's largest consumer trading platform, Swissquote Group Holding SA, requiring it to take more effective measures to reduce suspicious activities.According to Swissquote CEO Marc Buerki, Finma explicitly instructed the company to reduce the number of reports submitted to the Swiss Anti-Money Laundering Reporting Office in its annual assessment letter earlier this year. This move is a regulatory action in response to the recent surge in fraud attempts and hacking attacks faced by the platform. Notably, as one of the traditional financial institutions in Switzerland that offered cryptocurrency trading services early on, this increased regulation may impact Swissquote's compliance requirements across all its business areas, including cryptocurrency.

ChainCatcher news, according to Jinshi Data, Credit Suisse analyst Ipek Ozkardeskaya stated that given the high concentration of global portfolios in U.S. companies, investors may need to increase their hedging against the risk of a weakening dollar. This could further depress the dollar's valuation in the medium term. In the past, investors were not eager to hedge against the risk of dollar depreciation because, during periods of increased market volatility, the dollar typically strengthened due to safe-haven inflows. However, the recent situation is different: despite rising market volatility, the dollar has continued to weaken. This increase in volatility itself has raised hedging costs, leading to an unusual negative correlation between the dollar and volatility. This situation is causing significant distress for investors.

ChainCatcher news, according to Jinshi reports, Swiss bank analyst Ipek Ozkardeskaya stated in a report that the dollar has slightly weakened as investors bet on the Federal Reserve further cutting interest rates this month. The non-farm payroll data released last Friday showed an improvement in job growth in November, an increase in wages, but an unexpected rise in the unemployment rate.Ozkardeskaya noted that this data has strengthened market expectations that the Federal Reserve will cut rates by 25 basis points at the December meeting. At the same time, although investors are seeking safe-haven assets amid global political turmoil, these expectations support the case for a weaker dollar. LSEG data shows that the market currently sees an 85% chance of a 25 basis point rate cut in December.