Brisbane-based crypto exchange Swyftx has rejected concerns its capital injection is in response to the dramatic collapse of FTX, insisting the cash is for global expansion plans, and its $1.5 billion merger of budget stockbroker Superhero remains on track.
Alex Harper and Angus Goldman from Swyftx, and John Winters, Wayne Baskin from Superhero: the merger remains on track., the capital raise is being run by Spartan Group, a specialised blockchain investment and advisory firm based in Singapore and Hong Kong. It uses the world’s largest crypto exchange, Binance, as a liquidity provider to match trades, although it said it was not exclusively engaged with them as a counterparty.Swyftx said Australian crypto businesses were operationally sound, despite the collapse of FTX casting a shadow over the sector.
“FTX isn’t the first business to treat its customers with contempt and sadly it won’t be the last,” Alex Harper, co-founder and chief executive of Swyftx, said.
Yep they all look like crypto bros