Amber Group reportedly looking to downsize despite raising 300M

Amber Group announced that it raised $300 million on a Series-C funding round on Dec.16. It also revealed plans to lay off up to 400 employees and cancel performance-based bonuses, as reported by Bloomberg News. Amber Group initially responded to the Bloomberg News article stating the company was “business as usual” following a statement that claimed there had been “certain false allegations against Amber today, our legal counsel will issue an official statement shortly and take potential legal actions.”.The news regarding the latest funding round revealed it to be led by Fenbuhi Capital US.