With more regulators eyeing the crypto space as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved. 

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

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

(By EZRA REGUERRA)