Swyftx had announced in June that it would be merging with trading platform Superhero in a $1.5 billion deal.
Swyftx crypto exchange cuts 21% of staff
The Australian crypto exchange Swyftx laid off 21% of its workforce, affecting 74 employees. One such employee was on her honeymoon in Hawaii when she learned she was suddenly out of a job. The company blamed "an uncertain business environment, with levels of domestic inflation not seen in over two decades, rising interest rates, highly volatile markets across all asset classes, and the potential for a global recession" for the cuts.