Singapore-based digital asset manager Amber Group has cut its Hong Kong staff by half to 40, shedding jobs in risk management, audit and compliance, to try and weather a slump in cryptocurrency prices and a cascade of bankruptcies in the industry, according to a report by the South China Morning Post on Wednesday that cited a person familiar with the developments. The SCMP report said Amber had cut its compliance workforce in Hong Kong to five from 20 people and made their entire auditing team redundant. It did not mention the Singapore headquarter operations or the total number of staff at Amber. (forkast)