Singapore-based Amber Group is the latest firm to get caught in the chilling aftermath of FTX’s spectacular fall.

One of Asia’s biggest lenders and trading platforms of crypto has canceled performance-based bonuses for 2022 due to slower growth and market uncertainty, per a report by Bloomberg.

Last week the news service reported the firm will slash its workforce to fewer than 400 from its current 700 employees. The company’s employment peaked earlier this year at 1,100.

In addition, it was reported the crypto platform was to pause raising a $100 million funding round. Crypto funding has been down of late.

Amber last raised a $200 million Series B+ round in February led by investment company Temasek, with participation from existing shareholders including Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners and Coinbase Ventures among others.

The round valued the company at $3 billion. Amber has raised a total of $328 million, per the company.

(by Chris Metinko)