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Crypto Lender Amber Scraps Bonuses, Cuts Jobs as FTX Collapse Turmoil Continues

  • Temasek-backed platform is slashing 60% of its workforce
  • Fundraising paused, costs cut to help it survive crypto winter
Bloomberg business news
Bitcoin No Better Than Beanie Babies: Ralph Schlosstein

Amber Group, one of Asia’s biggest trading and lending platforms for digital currencies, has canceled this year’s staff bonuses as the one-time industry darling grapples with the crypto downturn.  

The Singapore-based outfit told employees this week that it is scrapping performance-based bonuses for 2022 due to slower business growth and market uncertainties, in an internal memo viewed by Bloomberg News.