bivfptew (bivfptew)

Cory Klippsten, CEO of California-based Swan, a Bitcoin-specific investment platform, has announced that the company is shutting down its mining operations and canceling plans to go public. Swan, which provides bitcoin asset management and financial advisory services, has also laid off an unspecified number of employees across “multiple functions”. The company's mining arm, which began operations in July 2023, raised at least $100 million from institutional investors in January and plans to set up mines overseas. The company had planned to go public by the end of this year.Klippsten said, “It is unlikely that Swan will continue our hosted mining operations in the near future. As we are unable to generate significant short-term revenues from our hosted mining division, we are canceling our plans for an IPO in the near future,” Klippsten said.

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BlockFi Program Administrator Mohsin Y. Meghji has announced a significant transaction to sell all claims against FTX and achieve 100% payout to customers and unsecured creditors. This transaction marks the end of the liquidation of BlockFi, a platform that is no longer active and where “in-kind” distributions to customers will be made through a partnership with Coinbase.

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