Swissquote cuts full-year guidance as 1H crypto income plunges, shares slide

60-second summary

Swissquote cuts its full-year revenue and profit forecasts after first-half crypto trading levels plummeted, citing a significant decline in income. The online bank's first-half crypto income plunged, leading to a downward revision of its full-year guidance. Shares in Swissquote are sliding as investors react to the disappointing update, highlighting the volatility of the crypto market's impact on traditional financial institutions.