Swyftx

Swyftx laid off 37 employees representing approximately 15% of its workforce on 2026-04-15. The company operates in the Crypto sector.

Australian cryptocurrency exchange Swyftx is laying off 90 employees, representing 40% of its workforce, as a direct response to the severe market downturn following the collapse of FTX. Announced in a message to staff on Monday, CEO Alex Harper stated the cuts are a preemptive move to prepare for a potential prolonged crypto winter and further market shocks in 2023. Harper admitted the company had grown too rapidly, now having a team up to five times larger than its main domestic competitors. This is the second round of layoffs for Swyftx this year, following a reduction of 74 staff earlier, as the global crypto industry reels from the FTX fallout.

Australian cryptocurrency exchange Swyftx laid off 74 employees, representing 21% of its workforce, in response to a challenging economic environment marked by high inflation, rising interest rates, and market volatility. The company's co-CEOs announced the difficult decision, emphasizing it was a last resort to align costs with an extended period of uncertainty. The layoffs occurred in 2022, impacting the fintech industry, and the company, which had grown significantly, is providing support including career counseling and accelerated equity vesting to affected staff.