Swan Bitcoin Faces Financial Challenges Amid Layoffs, Cancelled IPO, and Tether Bailout

Swan Bitcoin is reportedly facing significant financial challenges, including layoffs, a cancelled IPO, and the cancellation of its conference. Concerns have been raised about the safety of funds held with the company, with some advising clients to withdraw their Bitcoin immediately. Rumors suggest that Swan Bitcoin may have been involved in a Tether bailout and could be experiencing issues similar to those faced by Celsius. Additionally, a partnership with BitGo was announced shortly after a major hack involving another custody partner, Fortress, raising further concerns about Swan's financial stability.