Bitcoin Investment Platform Swan to Cancel its IPO
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Swan Bitcoin, a company based in California that specializes in Bitcoin investments, has announced that it is rolling back its mining business and has canceled plans to go public.
This decision was announced by CEO Cory Klippsten on X. According to Klippsten, the company is unlikely to continue with their Managed Mining business in the near future.
As a result, they have withdrawn their plans to go public, as they do not expect significant revenue from this division in the immediate future.
This has also led to a downsizing of several employees in various departments. Klippsten has promised to assist these employees in finding new job opportunities.
The exact number of employees affected by these cuts has not yet been disclosed.
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