Amber Group is withdrawing from its expansion plans in the United States and Europe to cut costs

ChainCatcher news, confirmed by The Block, the crypto financial services platform Amber Group is exiting its expansion plans in the U.S. and Europe to cut costs during the crypto winter. Executives who have left include U.S. institutional sales head Angie Beehler, U.S. CEO and Americas co-head Cactus Raazi, Middle East and North Africa CEO Dimitrios Kavvathas, Switzerland Managing Director Francesco Adiliberti, and Europe Managing Director Sophia Shluger.

It is reported that insiders revealed Amber Group has terminated its sponsorship agreement with Chelsea and will lay off over 300 employees. (source link)