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Crypto Trading Firm Amber Cut as Much as 10% of Its Staff

  • Singapore firm adjusts headcount based on ‘market conditions’
  • Co-founder says still looking to add ‘higher priority’ jobs
    

    

Photographer: Erhan Demirtas/Bloomberg
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Amber Group, a cryptocurrency trading platform that was seeking to raise funding as recently as May, has cut as much as 10% of its staff this year due to an overall market downturn.

The Singapore-based company’s co-founder, Tiantian Kullander, said the company adjusts global headcount every quarter, and estimated that this year’s total net headcount change has been a 5% to 10% reduction in jobs.