Australian Crypto Exchange Swyftx Cuts Its Workforce By 21% Amid Bear Market
The low prices of cryptocurrencies have lowered crypto services platforms’ income. As a result, it forced many crypto exchanges to lay off their staff to fight the challenging global economic conditions of 2022. Following the footstep of other companies, Swyftx, an Australian-based crypto exchange, has announced cutting its workforce by 21% to minimize the cost […]
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Australian crypto exchange Swyftx highlighted inflation, a recession, and the bear market as the reasons behind the unfortunate lay-offs. Australian crypto exchange Swyftx has had to lay off 21% of its staff to lower costs as it wades through the current bear market. According to an Aug. 17 note from co-CEOs Alex Harper and Ryan Parsons stated that 74 colleagues had to be let go, as the current economic climate that they were hired in has shifted dramatically to what it is today: “As you’re all aware, we are operating in an uncertain business environment, with levels of domestic inflation....
An Australian cryptocurrency exchange, Swyftx, which boasts 660,000 customers, aims to launch an educational initiative. According to the firm, the reason was due to the increased demand for crypto education during the bear market. The cryptocurrency exchange Swyftx is introducing an “Earn and Learn” crypto education platform. This platform aims to incentivize users by offering […]
Swyftx, one of Australia's largest crypto exchanges, has become the first local exchange to offer users zero-fee yields on cryptocurrency deposits. Swyftx exchange will begin offering interest-bearing yields on a wide range of cryptocurrency assets — the first Australian-operated crypto exchange to do so.Swyftx’s new product, called Earn, will offer Australian and New Zealand residents the ability to earn interest on 21 different digital assets, including large-cap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA) and stablecoins like Tether (USDT) and USD....
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Blockchain.com has announced on Thursday that it was slashing a quarter of its global workforce, multiple sources disclosed. The Luxembourg-based cryptocurrency exchange had swiftly grown during the bull market, hiring 450 new employees over the course of 16 months. As the bear market continues to wreak havoc, the company has decided to reverse course, laying […]