The Swiss stock market is set to open lower, with the SMI index down 0.24% ahead of the US Federal Reserve's monetary policy decision and UK inflation data. Analysts anticipate a 25 basis point rate cut from the Fed, despite concerns over inflation in a strong US economy. Roche is slightly up after receiving a CE mark for a new testing device, while Dätwyler faces a significant loss due to a restructuring plan.
Ethereum spot ETFs have seen a significant net inflow of $145 million, reflecting growing institutional interest, with BlackRock’s ETHA leading at $3.365 billion. Grayscale’s ETH also contributed, increasing its net inflow to $616 million, while cumulative net assets for Ethereum spot ETFs reached $14.04 billion.In related news, President-elect Trump met with Crypto.com CEO Kris Marszalek to discuss establishing a U.S. Strategic Bitcoin Reserve, aimed at enhancing economic security and consolidating government-held Bitcoin. This initiative follows Trump's engagement with other crypto leaders and coincides with Bitcoin hitting an all-time high of $108,268.45.
Crystal Intelligence has partnered with Banxa to enhance crypto compliance in Australia, addressing new regulatory requirements set by the Australian Securities and Investments Commission (ASIC). This collaboration aims to bolster Banxa's security operations and ensure adherence to the AML/CTF regime as the country tightens its regulatory framework for digital assets. As part of these efforts, AUSTRAC has formed a task force to tackle non-compliance among crypto ATM providers, highlighting the increasing exploitation of crypto for money laundering.
Heinz Huber has been appointed as the new president of Graubünden Cantonal Bank, effective July 1, 2025, succeeding Peter A. Fanconi. Huber, who has extensive experience in the financial sector, currently serves as chairman of the executive board of Raiffeisen Switzerland and has a strong connection to Graubünden through his secondary residence. Fanconi will remain in his position until the end of June 2025 to ensure a smooth transition.
The Australian Securities and Investments Commission (ASIC) has initiated legal action against Binance Australia Derivatives for misclassifying 83% of its Australian clients as wholesale investors, which deprived them of essential consumer protections. The regulator claims that over 500 clients were exposed to high-risk products without adequate safeguards, leading to significant financial losses. This lawsuit follows ASIC's cancellation of Binance's financial services license in April 2023 due to compliance failures, amid increasing regulatory scrutiny of the digital asset sector in Australia.
Bybit will cease withdrawal and custody services for French users starting January 8, 2025, due to regulatory pressures from the French financial authority, Autorité des Marchés Financiers (AMF). This follows previous restrictions on purchasing new products and a history of non-compliance with local regulations. Users are urged to withdraw their funds before the deadline, as unclaimed balances will be transferred to Coinhouse, a regulated custodian, while smaller accounts will incur termination fees.
Ethereum spot ETFs have experienced 16 consecutive days of positive inflows, totaling $2.32 billion, fueling optimism for a potential new all-time high (ATH) as ETH approaches the critical $4,000 resistance level. Analysts note that while bullish sentiment is strong, caution remains due to potential selling pressure from significant unstaking activities. Currently, ETH trades at $3,947, reflecting a slight decline of 0.2% in the past 24 hours.
The Vienna Stock Exchange experienced losses on Tuesday, with the ATX index dropping 0.92% to 3,589.88 points amid cautious sentiment ahead of the Fed's monetary policy decision. EVN shares fell 8.2% after reporting lower revenue and profit, while insurance stocks like Vienna Insurance Group and Uniqa gained. Economic data showed mixed signals, with a surprising drop in Germany's Ifo business climate index and a decline in US industrial production, although retail sales rose ahead of the holiday season.
The global gene therapy market, valued at $7.54 billion in 2022, is projected to reach $41.38 billion by 2031, driven by increased R&D, favorable regulations, and collaborations between pharmaceutical companies and academic institutions. North America leads the market, with significant advancements in biotechnology and numerous clinical trials. Recent developments include Novartis's acquisition of a gene therapy candidate from Avrobio and Bristol-Myers Squibb's expansion of its cell therapy manufacturing network.
Raiffeisen's CEO is stepping down to become president of Graubünden Cantonal Bank, effective January 1. Christian Poerschke, the vice chairman of management and head of finance and services, will serve as interim CEO. Huber has been appointed to lead the cantonal bank's strategic leadership and supervisory body, succeeding Peter Fanconi, who will remain until June 2025.
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