SwanBitcoin cancels conference due to staff cuts, mining halts

Crypto financial services company Swan Bitcoin has canceled its crypto conference that was scheduled to be held in October.
According to Cointelegraph on the 5th (local time), Swan Bitcoin CEO Cory
On this day, Klippsten posted on X (formerly Twitter) that "it doesn't seem like the time for festivals right now," and announced that the festival will be held in October.
The Swan Bitcoin conference, scheduled to be held in Santa Monica, California on October 18-19 of this year, has been canceled.
The Pacific Bitcoin Festival was scheduled to take place in Nika. Clipsten's CEO commented on the event's cancellation, "We are focused on the core business of Swan Bitcoin.
"We are committed and after experiencing staff reductions last month, we don't feel it is the right time to go ahead with the festival."
Last July, the company suspended its cryptocurrency mining operations, which were scheduled to begin in 2023, as originally planned.
The company also announced that it had canceled plans for an IPO. At the time, CEO Klipsten added, "We have had to cut staff numbers in various departments."