Online Investing Platform Superhero Cancels Merger with Swyftx Citing Regulatory Scrutiny

In an email to its customers, Superhero highlighted that it will not be proceeding with its merger with the crypto exchange Swyftx. According to the company, this is because of heightened regulatory scrutiny within Australia and globally.

Superhero wrote: "As a result of the current environment, we have decided that the best thing for our Superhero customers is to unwind the merger and move forward as a separate, unrelated company."

The firm also assured its users that their funds are safe, as neither their data nor their assets were provided to Swyftx.