Exclusive: Australian cryptocurrency exchange Swyftx announced the closure of its Earn product over the Christmas long weekend. This follows a spate of similar products being shut down just weeks prior by Finder Earn and Block Earner after legal action was taken by the Australian Securities and Investments Commission (ASIC).
Swyftx was first launched in 2019 by IT experts, Angus Goldman and Alex Harper. The pair first met the University of Sydney’s National Computer Science School camp 2012 and were then housemates in Brisbane years later before launching the crypto exchange.
Swyftx’s Earn offering was first launched in May 2022 and it enabled users to earn daily interest on specific cryptocurrencies and stablecoins by loaning them to Swyftx.
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