According to CoinMeta, the Swiss online bank swissquote saw its net income from cryptocurrency services decline by 66.2% in the first half of the year, to 14.6 million Swiss francs (about 18 million US dollars). The volume of cryptocurrency transactions also decreased by 63.5%, to 2.58 billion Swiss francs (about 3.18 billion US dollars). In addition, due to holding cryptocurrency assets that were traded on the sqx exchange, the bank incurred a loss of 5.3 million Swiss francs (about 6.53 million US dollars). swissquote has lowered its annual net income forecast by about 30 million Swiss francs (about 36.99 million US dollars), to 730 million Swiss francs (about 900 million US dollars), stating that the decline in the prices of most cryptocurrencies led to business performance falling short of expectations. Following the announcement, the company's stock price dropped by 14%.