Amber Group successfully raises $50 million in funding, then lays off 300 employees.

Bloomberg, citing sources, reported that Amber Group is currently undergoing cost-cutting measures, including layoffs, discontinuation of retail business, and termination of sponsorship agreement with Chelsea Football Club. Sources mentioned that these actions are part of a cost-cutting strategy, with Amber Group planning to reduce its workforce from 700 to less than 400 employees, as the company had a peak of 1,100 employees.

Bloomberg reported, citing sources, that Amber Group is currently undergoing cost-cutting measures, including layoffs, discontinuation of retail business, and termination of its sponsorship agreement with Chelsea Football Club. The sources stated that these actions are part of a cost-cutting strategy, with Amber Group planning to reduce its staff from over 700 to less than 400; the company's employee count had previously peaked at 1,100.

The sources also mentioned that Amber is now focusing on large institutions, family offices, and high-net-worth clients, with its client base expected to decrease from hundreds of thousands to around 100. The sources indicated that Amber plans to move to cheaper office locations in Hong Kong, with some smaller offices in other regions possibly closing down, and the remaining employees will be allowed to work from home.

Furthermore, according to the Financial Times, Amber Group has raised approximately $50 million from a new sovereign fund, with the deal set to be announced in January, valuing the current round of funding at $3 billion.

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