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Australian crypto exchange collapses

Published

3 years ago

on

Australian crypto exchange in administration following the FTX collapse

Thousands of customers left in the lurch as an Australian-based crypto exchange goes bust.

As the great crypto crash continues, Digital Surge is officially in administration.

The company’s 30,000 customers all unable to trade or withdraw any money.

But if you are one of these individuals, don’t fret just yet. The company’s directors plan to spend $1 million of their own money to pay off the debts owed.

Administrators KordaMentha have also advised Digital Surge customers returning their funds is the highest priority.

“We fully appreciate the uncertainty the voluntary administration will create. We will proactively and regularly communicate with customers to ensure they are fully informed on the progress of the administration,” KordaMentha’s Scott Langdon said.

The trading platform was set up in 2017 and gave users access to over 300 different digital currencies.

Its demise has been directly linked to the collapse of global crypto exchange FTX. The $32 billion platform filed for bankruptcy amid claims it was being poorly managed.

Digital Surge had been leaning on FTX for some of its trading – and they’re not alone.

Brisbane-based Swyftx also laying off 35 per cent of its staff.

Swyftx CEOs, Alex Harper and Angus Goldman, informed workers of the “difficult decision” during at a company-wide town hall.

It’s unlikely it will end there as the market readjusts to a world without Sam Bankman-Fried’s brainchild.

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William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

Australia’s inflation report and Nvidia earnings impact explained

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Published

6 days ago

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February 26, 2026

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Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.


Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.

David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.

On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.

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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights


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U.S. stocks rally as AMD, Home Depot, and AI software lead gains

U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

Published

7 days ago

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February 25, 2026

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U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

U.S. tech stocks surged as investors’ fears over AI disruption eased. Advanced Micro Devices jumped 9% after Meta announced a multiyear deal to deploy AMD’s graphics processing units for AI data centres. The move highlights growing corporate confidence in AI infrastructure investments.

DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.

The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.


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Money

Stocks tumble amid AI concerns and Trump tariff update

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Published

1 week ago

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February 24, 2026

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Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.

Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.

Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.

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