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‘Business as Usual’ At Amber Group, Says The Company

'Business as Usual' At Amber Group, Says The Company

Following claims that the company had laid off employees, Amber Group is assuring clients and stakeholders that it is “business as usual” at the firm.

According to Wu Blockchain, the Hong Kong-based corporation cut off hundreds of staff in this current round.

In September, the company cut 10% of its workforce, citing the bear market.

Explaining this event, Amber Group said in a statement:

Concerns have been voiced on Chinese-language social media that former employees have not received agreed-upon pay following the layoffs. Employees also reported having difficulty contacting top managers, including CEO Michael Wu.

One Twitter user inquired of the company’s head of business development, Annabelle Huang, about the safety of their cash. Huang reacted immediately:

Amber previously stated that FTX accounted for less than 10% of the company’s trading capital.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.