Crypto firm Amber Group is making various business-related cuts as it struggles to weather the ongoing crypto winter.

The Singapore-based crypto trading and lending platform's expansion plans have been put on hold after raising half of a planned $100 million funding round, according to the Financial Times. It is also cutting jobs and ending a £20 million ($25 million) yearly sponsorship deal with Chelsea FC, Bloomberg reported, citing a person familiar with the matter.

Speculation has run rampant over recent days as to Amber's health. Though the firm claimed it had no exposure to Alameda Research, the collapsed trading firm associated with the also-collapsed crypto exchange FTX, it actively traded on FTX and experienced withdrawal issues — leading many to assume its finances were significantly impacted. Amber managing partner Annabelle Huang claims less than 10% of the firm's trading capital was stuck on FTX.

Concerns over Ambers' health also haven't been relieved by the news it will further cut staff down from roughly 700 to less than 400, according to Bloomberg.