Australian crypto exchange SwyftxAU has cut 90 jobs citing the crypto market downturn. By parikshitm899
, the exchange has some 200 employees, which would imply that Swyftx is reducing some 45% of its total workforce.
Swyftx also said that it has no direct exposure to the bankrupt crypto giant FTX. The firm said the job cuts are a result of the crypto market downturn caused by FTX. The crypto exchange has around 630,000 customers, according to the blog post by Swyftx co-founder Alex Harper. The job cuts come at time when the crypto market is reeling from the impact of the FTX fallout and subsequent market downturn. Crypto exchange
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