Wu said that Cory Klippsten, CEO of Bitcoin financial services company Swan, tweeted that the company will cancel its public listing plan and shut down its Bitcoin mining business. Swan originally planned to go public by the end of this year, but decided to cancel the plan due to poor revenue expectations for the recent mining business. Swan's managed mining business was launched in July 2023. In addition, this adjustment also led to layoffs in multiple functional departments of the company.