Australian Crypto Exchange Swyftx Announces 90 Job Cuts

Australian crypto exchange Swyftx has cut some 90 jobs citing the crypto downturn, the firm said on Monday.

According to LinkedIn, 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.