The co-founders and former shareholders of Superhero will resume control of the ambitious share-trading platform in a management buyout.
The decision also follows the, the world’s largest crypto exchange, which is being investigated by US federal prosecutors for alleged money laundering. Questions have been raised about the extent to which Swyftx customer assets are stored locally with third-party custodians, as opposed to on the global Binance exchange.
“We currently face a scenario where there might be no realised benefits to customers from the merger until 2024 at the earliest. It is a disappointing outcome but ultimately, we took this decision in the best interests of both Superhero and Swyftx, as well as their customers.”earlier this month in the wake of the FTX collapse, told remaining staff of the deal’s abandonment in a private Slack thread on Tuesday evening., heralding the creation of a wealth management platform administering $1.
Superhero rivals Stake and SelfWealth had also announced their intention to add crypto-trading functionality, as had the Commonwealth Bank, which shocked the market with its plans to allow customers to trade crypto assets via its banking app. It is understood none of the brokers have as yet switched on crypto-trading functionality., separately suing fund manager Holon, comparison site Finder.com and crypto exchange Block Earner for alleged misconduct.
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