Amber Group, A Temasek-backed cryptocurrency firm, is making 'dynamic headcount adjustments' across its global offices

Amber Group, a Temasek-backed cryptocurrency firm, has "made dynamic adjustments" to its headcount and team compositions across global offices, with its Singapore headquarters "open and operating as usual."

Amber Group stated that the changes, which were part of the company's quarterly business planning, were made based on business needs as well as other operational considerations such as cost and efficiency.
According to Amber Group, their operations and business will not be impacted, and employees affected by the changes will be offered severance pay.

The cryptocurrency company also addressed reports of delayed severance payments, attributing the delay to a "transaction delay due to the restriction in the foreign exchange quota."

"As we weather the market cycle, we are constantly adjusting and pivoting business strategies, as well as making correspondent headcount adjustments across our global offices to remain resilient and competitive," Amber Group said.

According to a report last week, the crypto firm, founded by former Morgan Stanley traders, only raised half of a planned US$100 million funding round, raising concerns that it was harmed by FTX's demise.