Swan abandons mining and IPO, lays off employees
![](https://protos-media.s3.eu-west-2.amazonaws.com/wp-content/uploads/2024/07/23104921/Protos-Artwork-SwanUTurn-1200x675.jpg)
Bitcoin firm Swan plans to end its managed mining product and has delayed its IPO while laying off employees.
Bitcoin firm Swan plans to end its managed mining product and has delayed its IPO while laying off employees.
Swan Bitcoin CEO Cory Klippsten has promised more details on the company’s 2023 funding efforts but has not yet named the primary source.
Swan Bitcoin is struggling with banking access again as banks suspend accounts of customers who used bitcoin mixers.
According to Swan Bitcoin CEO Cory Klippsten, Ripple perpetrated “a criminal game of securities fraud.” Then Ripple bought Swan’s custodian.