Inside Swyftx’s chaotic crypto resurgence — Capital Brief

Brisbane-based cryptocurrency exchange Swyftx has quietly swung back to profitability off the back off a surge in trading revenue. But the company has also disclosed multi-million dollar loans with its own founders, struck in the wake of a collapsed merger with Superhero and during the depths of the ‘crypto winter’.

The fintech posted a $32.4 million profit last financial year as trading revenues doubled from the year prior, new financial statements lodged with the corporate regulator show.



This represents a significant turnaround from the year prior where it ran a $135 million loss on the back of large scale redundancies and the undoing of its vaunted merger with share trading platform Superhero.

“Many of the headwinds we saw in 2023 have fully abated and we’re today well positioned to consolidate our market leading position after investing heavily in our customer offering, leadership team and compliance functions,” a Swyftx spokesperson told Capital Brief.


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