as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved.
In an email to its customers, Superhero highlighted that it will not be proceeding with its merger with the crypto exchange. According to the company, this is because of heightened regulatory scrutiny within Australia and globally. They wrote: “As a result of the current environment, we have decided that the best thing for our Superhero customers is to unwind the merger and move forward as a separate, unrelated company.”
The firm also assured its users that their funds are safe, as neither their data nor their assets were provided to Swyftx.on June 8 and revealed plans to enable trading between traditional and crypto assets. Back then, Swyftx co-CEO Ryan Parsons told Cointelegraph that the long-term goal for the merger is to explore interoperability between asset classes. However, things did not work out as planned.
Back then, Swyftx co-CEO Ryan Parsons told Cointelegraph that the long-term goal for the merger was to explore interoperability between asset classes. However, things did not work out as planned.