bullish

Pacific

Bitcoin

Captain Max

Financial services firm Swan Bitcoin has canceled a cryptocurrency conference it planned to host in California in October.
In an Aug. 5 X post, Swan Bitcoin CEO Cory Klippsten <a href="https://x.com/coryklippsten/status/1820535724761895373" target="_blank" rel="noopener noreferrer nofollow">announced</a> that the company would not hold the Pacific Bitcoin Festival in 2024. The event, initially planned to be held in Santa Monica, California, from Oct. 18 to Oct. 19, was roughly two months away at the time of cancellation.
“We’re fully focused on [Swan Bitcoin’s] core business right now, and after going through a staff reduction last month it just doesn’t feel like the right time for a festival,” said Klippsten.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-08/49a13ce2-a1a4-4585-aca4-818658fa8597.png" alt="Swan Bitcoin cancels conference amid staff reduction, mining shutdown">
 <figcaption style="text-align: center;">Source:&nbsp;<a href="https://x.com/coryklippsten/status/1820535724761895373" target="_blank" rel="noopener noreferrer nofollow">Cory Klippsten</a>
 </figcaption>
</figure>
Klippsten announced in July that the financial services firm had <a href="https://cointelegraph.com/news/swan-bitcoin-shutdown-mining-ipo-plans" rel="noopener noreferrer nofollow">scrapped its immediate plans</a> for an initial public offering after shutting down its crypto mining arm, which was first launched in 2023. At the time, the CEO said there had been “staff cuts across many functions.”
Related: <a href="https://cointelegraph.com/news/united-states-treasuries-japanese-yen-bitcoin-cryptocurrency-swan-bitcoin" rel="noopener noreferrer nofollow">Emergency ‘wall of liquidity’ to prop up yen bullish for Bitcoin — Swan</a>
According to the Swan Bitcoin CEO, the firm would host a “smaller one-day event” on Oct. 17 but planned to return to a full conference in 2025. The announcement came just a few weeks after <a href="https://cointelegraph.com/magazine/bitfinex-hacker-bitcoin-2024-senator-lummis-bitcoin-strategic-reserve-bill-cointelegraph-magazine/" rel="noopener noreferrer nofollow">one of the biggest cryptocurrency conferences</a> in the United States, Bitcoin 2024, was held in Nashville.
Speakers at the Pacific Bitcoin Festival would have included Bitcoiner Max Keiser, who has been behind many efforts to <a href="https://cointelegraph.com/news/el-salvador-s-bitcoin-miner-volcano-energy-launches-with-250m-investment" rel="noopener noreferrer nofollow">push Bitcoin adoption</a> in El Salvador, and Marathon CEO Fred Thiel.
Magazine: <a href="https://cointelegraph.com/magazine/5-ways-crypto-bots-are-ruining-crypto-including-auto-memecoin-rug-pulls/" rel="noopener noreferrer nofollow">How crypto bots are ruining crypto — including auto memecoin rug pulls</a>

Swan Bitcoin cancels conference amid staff reduction, mining shutdown

Cointelegraph

Other articles published on Aug 5, 2024

PEPE Coin CRASH -40% and THIS is Where to Buy PEPE Again...

Bitcoin Price Drop to $50,300 Leaves Miners in the Red: Profitable Models Dwindle

Binance Labs Unveils First Batch of Projects in Season 7 Incubation Program

Find the Best Ongoing Presales in 2024 – As Hedera Acquires 400K New Accounts This Week

Cardano vs Ethereum: Comparing Blockchain Technologies and Use Cases

Crypto black Monday: Why is crypto crashing right now?

Join our free newsletter for daily crypto updates!