Swan Bitcoin abandons IPO plans, lays off employees and shuts down mining division

Odaily News Bitcoin financial services company Swan Bitcoin has abandoned its plans to go public, closed its managed mining department, and laid off employees in multiple departments. Swan CEO Cory Klippsten posted on the X platform that the company will continue to provide Bitcoin financial services and free Bitcoin education, "Since we no longer expect to receive significant short-term revenue from the managed mining department, we have decided to cancel our recent IPO plans." (CoinDesk)