Cryptocurrency exchange Swyftx axes 90 jobs with CEO blaming aftershocks of FTX collapse

Company expects further significant drops in trade and the potential for more black swan-type events'

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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".

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