Hong Kong-based digital asset platform Amber Group has now announced that it will cut its staff by 40% after denying allegations that it would reduce its workforce last week.
It was claimed that Amber Group had reduced the number of personnel recently. The platform made a post that denied these allegations and said, “We continue to run our business as usual. Withdrawals are open if you have any concerns.” had used the words. According to a recent report by Bloomberg, Amber Group has announced that its workforce will be around approx. to 35% now after the end 700 personal workforce to 400 getting ready to drop. In the news, it was stated that this decision is part of the cost reduction strategy.
According to a Financial Times (FT) report, Amber Group $100 million fund It collected only half of its tour and also halted its expansion plans.
According to data provided by the on-chain data platform Lookonchain, the company has only $9.46 million remained in existence, and therefore the future of the company is considered to be worrisome.
Amber executives, who made a statement after the FTX bankruptcy, in FTX the total balance sheet of the assets in which they hold assets and from 10% He declared that it was less.
Responding to these news circulating in the market, Managing Partner of Amber Group Annabelle Huangthe enterpriseto work as usual” continues and “Withdrawals are open as usual.“He denied these allegations.
The company, which has announced that it will stop its retail operations as well as personnel layoffs, chooses this painful path to continue its activities. On the other hand, in the past Chelsea FC made with $25 million sponsorship agreement will also be terminated by Amber Group.