FTX Tremors Spur Australian Crypto Exchange Swyftx to Lay Off 35% of Staff
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Australian crypto exchange Swyftx laid off 35% of employees as the crisis sparked by FTX’s implosion further dims the sector’s outlook.
Australian crypto exchange Swyftx laid off 35% of employees as the crisis sparked by FTX's implosion further dims the sector's outlook. The firm let go 90 of 259 people, a step taken “in expectation of a potentially sharp fall in global trade volumes in the first half of 2023 and further aftershocks from FTX's collapse,” a Swyftx spokesperson said Monday. Chief Executive Officer Alex Harper flagged the potential for more “black swan-type events” in a message to staff seen by Bloomberg News. Swyftx had already laid off about a fifth of its workforce in August. Investors have fled the crypto sector after a yearlong rout and a series of blo...