Crypto Lender Amber Scraps Bonuses, Cuts Jobs as FTX Collapse Turmoil Continues
[ad_1]
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.
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. Since June, Amber has kicked off a series of cost-cutting measures including redundancies and wage reductions. Some of its management team have voluntarily agreed to give up all or ...