Company expects further significant drops in trade and ‘the potential for more black swan-type events’
Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcast
Brisbane-based cryptocurrency exchange Swyftx has cut 90 jobs citing the aftershocks of the collapse of global exchange FTX and a sharp fall in global trade.
In a message to staff on Monday, co-founder and CEO, Alex Harper, said while Swyftx had no direct exposure to FTX, the company was not immune to the fallout in crypto markets, and Swyftx was preparing for further significant drops in trade volumes in the first half of next year “and the potential for more black swan-type events”.
Continue reading…Company expects further significant drops in trade and ‘the potential for more black swan-type events’Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastBrisbane-based cryptocurrency exchange Swyftx has cut 90 jobs citing the aftershocks of the collapse of global exchange FTX and a sharp fall in global trade.In a message to staff on Monday, co-founder and CEO, Alex Harper, said while Swyftx had no direct exposure to FTX, the company was not immune to the fallout in crypto markets, and Swyftx was preparing for further significant drops in trade volumes in the first half of next year “and the potential for more black swan-type events”.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…