Swyftx, an Australian cryptocurrency brokerage company, announced on Apr. 9 that it has replaced its CEO Jason Titman, with co-founder Alex Harper and former CFO Andrea Yuen taking over as acting co-CEOs.
As per a report by Information Age, the Brisbane-based crypto exchange has also laid off approximately 15% of its staff.
Related: Major crypto company shuts down, refunds investors
Acquisition spree at Swyftx
Founded by Harper and Angus Goldman in 2018, Swyftx supports more than a million retail, business and SMSF customers across the Australia and New Zealand (ANZ) region and the United States.
Its employees are spread across countries, including Australia, New Zealand, and the U.S.
The latest CEO reshuffle and layoffs come after an acquisition spree at Swyftx. Over the last year, the company completed two major acquisitions:
- New Zealand-based crypto exchange, Easy Crypto, for AUD 32.9 million in March 2025
- U.S.-focused broker Caleb & Brown for AUD 100 million in October 2025
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Layoffs part of restructuring process
Information Age reported that a company spokesperson told the publication that the layoffs were part of a restructuring process designed to “remove duplication, simplify our operations and capture efficiencies.”
Following the two acquisitions in the past year, the company had “increased in size and complexity,” the spokesperson added.
However, Bitcoin has seen wild price swings over the last year due to the global tariff war and the U.S.-Iran war. While BTC hit the record high price of $126,080 on Oct. 6, 2025, it is currently trading 40% lower at $74,758.17.
The tumultuous period over the past few months has seen several leadership swaps, layoffs, shutdowns, and bankruptcies in the crypto industry, and Swyftx is the latest to follow suit.
TheStreet Roundtable reached out to the company to ascertain the number of employees affected by the layoff and did not receive a response by the time of publishing.
Related: Popular crypto company cuts staff in post-acquisition restructuring
