Amber Group plans to spin off its profitable product AmberFin, and its mainland office is ready to vacate.

According to a report by BlockBeats, following the completion of layoffs in September, Amber Group laid off around 80 more employees in November. Some former Amber employees who did not receive the severance pay as outlined in the compensation agreement have prepared documents to sue Amber. In response to this, Amber's internal statement mentioned that the company encountered obstacles with its year-end foreign exchange settlement quota. The company is actively raising funds and is dealing with some obsolete fixed assets equipment while actively recovering office lease deposits.

According to a report from BlockBeats, after completing layoffs in September, Amber Group laid off about 80 more employees in November. Some Amber employees, who were unable to obtain the severance compensation outlined in the layoff agreement, have prepared documents to sue Amber. In response to this, the internal response from Amber Company mentioned that the end-of-year foreign exchange settlement quota was encountering obstacles, and the company is actively raising funds by dealing with some obsolete fixed assets and actively recovering office lease deposits.

Insiders revealed that Amber now has only about 800 employees left, and the layoffs are ongoing. Office locations in mainland China have been prepared for termination of lease, and employees have been asked to work from home, with access rights to offices being revoked.

Amber Company is in the process of separating its most profitable product, AmberFin, from Amber, while another major product, WhaleFin, has been in a long-term state of losses. Additionally, due to the FTX incident, Amber has a large amount of funds stuck on the FTX platform, estimated to be over $60 million.

Amber had hoped to raise funds with a valuation of $10 billion in the second half of the year, which was unsuccessful. An attempt to raise $100 million with a valuation of $3 billion also did not materialize. When BlockBeats inquired about the company's operations, Amber stated that everything is currently normal.

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