• About
  • Landing Page
  • Buy JNews
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Crypto Agency Amber Group Ends Sponsorship Deal With Chelsea

SB Crypto Guru News by SB Crypto Guru News
December 10, 2022
in Crypto Updates
0 0
0
Crypto Agency Amber Group Ends Sponsorship Deal With Chelsea


The bearish development within the crypto market has been blowing a unfavourable wave. The general decline is affecting crypto belongings and corporations in numerous methods. Following the collapse of the FTX crypto alternate, many particular person and institutional buyers recorded large losses.

Many enterprise corporations invested within the exchanges have counted their losses, whereas some needed to announce non-involvement to encourage their customers. Furthermore, with the FTX submitting of chapter, some affected firms now have little hope of recovering their funds trapped on the platform.

But, the contagion from the failed alternate remains to be spreading as the newest growth reveals the cancellation of sponsorships.

Crypto Buying and selling Agency Terminates Sponsorship Take care of Soccer Membership

Based on a report, crypto buying and selling firm Amber Group has determined to retract its cope with Chelsea FC. Consequently, the Singapore-based crypto agency is ending its $25 million sponsorship cope with the soccer membership.

Crypto Firm Amber Group Ends $25M Sponsorship Deal With Chelsea
Crypto market trades sideways on the chart | Supply: Crypto Whole Market Cap on TradingView.com

Amber Group is without doubt one of the outstanding digital asset corporations within the business. Its operations are unfold throughout totally different components of the world, with workplaces in Europe, America, and Asia.

The corporate affords a variety of digital asset providers similar to buying and selling, funds, financing, investing, spanning, and others. Temasek and Sequoia Capital again the crypto buying and selling agency.

Amber introduced its sponsorship cope with Chelsea about seven months in the past, and it was presupposed to final for the present 2022/2023 soccer season. By the settlement, the soccer membership included the brand of Amber’s WhaleFin buying and selling platform on gamers’ shirts. This may was deliberate to stay until the tip of the deal however is now canceled.

Amber Group Reduces Its Employees Power

Moreover the termination of its sponsorship deal, Amber Group has reportedly laid off 40% of its workforce. The corporate dropped about 300 staff, leaving lower than 400 in its workforce. Throughout its peak, the agency reported having over 1,100 staff below its care.

Amber related its new workers discount transfer to the prevailing bearish development within the crypto market. The declining situations have swept some corporations like Celsius Community, FTX, and BlockFi away.

Additional, the crypto buying and selling firm is reducing down its retail operations to focus on household workplaces and institutional buyers. This new transfer will create a dip in its buyer base from tons of of hundreds to about 100.

Stories from on-chain analysts recommend Amber might get the identical ending as Alameda Analysis, the buying and selling platform linked to the collapsed FTX alternate. Based on information from an analyst, crypto sleuth lookonchain, Amber Group has solely $9.46 million in belongings.

Crypto Firm Amber Group Ends $25M Sponsorship Deal With Chelsea

Nonetheless, the Managing Accomplice at Amber Group, Annabelle Huang, refuted the claims concerning the kind. Huang took to Twitter to report that the corporate remains to be working its enterprise as typical and that they don’t have any withdrawal restrictions.

Featured picture from Pixabay, chart from TradingView.com



Source link

Tags: AmberBitcoin NewsChelseaCryptoCrypto NewsCrypto UpdatesDealEndsFirmGroupLatest News on CryptoSB Crypto Guru NewsSponsorship
Previous Post

This is Why The AXS Value Has Pumped 15% in a Week

Next Post

India’s Kochi-Muziris Biennale turns ten—and gears up for its long-delayed fifth version

Next Post
India’s Kochi-Muziris Biennale turns ten—and gears up for its long-delayed fifth version

India's Kochi-Muziris Biennale turns ten—and gears up for its long-delayed fifth version

  • Trending
  • Comments
  • Latest
Meta Pumps a Further  Million into Horizon Metaverse

Meta Pumps a Further $50 Million into Horizon Metaverse

February 24, 2025
The Metaverse is Coming Back! – According to Meta

The Metaverse is Coming Back! – According to Meta

February 7, 2025
How to Get Token Prices with an RPC Node – Moralis Web3

How to Get Token Prices with an RPC Node – Moralis Web3

September 3, 2024
AI & Immersive Learning: Accelerating Skill Development with AI and XR

AI & Immersive Learning: Accelerating Skill Development with AI and XR

June 4, 2025
NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

September 6, 2024
Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

January 29, 2025
Analyst Says This ‘Classic Confirmation’ Must Happen First

Analyst Says This ‘Classic Confirmation’ Must Happen First

0
Streamly Snapshot: Modernizing KYB—Transforming Compliance into Opportunity

Streamly Snapshot: Modernizing KYB—Transforming Compliance into Opportunity

0
U.S. Lawmakers Gear Up for Groundbreaking Blockchain Bills

U.S. Lawmakers Gear Up for Groundbreaking Blockchain Bills

0
Bitcoin Treasury Companies Are Bubbles

Bitcoin Treasury Companies Are Bubbles

0
Trader Unveils Bullish Targets on ‘Promising’ Bitcoin, Updates Outlook on Ethereum, Dogecoin and Solana

Trader Unveils Bullish Targets on ‘Promising’ Bitcoin, Updates Outlook on Ethereum, Dogecoin and Solana

0
Ethereum Price Targets ,000 As Analyst Calls It A ‘Powder Keg’

Ethereum Price Targets $3,000 As Analyst Calls It A ‘Powder Keg’

0
Trader Unveils Bullish Targets on ‘Promising’ Bitcoin, Updates Outlook on Ethereum, Dogecoin and Solana

Trader Unveils Bullish Targets on ‘Promising’ Bitcoin, Updates Outlook on Ethereum, Dogecoin and Solana

July 5, 2025
Ethereum Price Targets ,000 As Analyst Calls It A ‘Powder Keg’

Ethereum Price Targets $3,000 As Analyst Calls It A ‘Powder Keg’

July 4, 2025
Ripple To Replace SWIFT? XRP Analyst Breaks Down Recent Developments

Ripple To Replace SWIFT? XRP Analyst Breaks Down Recent Developments

July 4, 2025
Nasdaq-Listed DeFi Technologies Sets Up Shop in Dubai to Tap MENA’s Crypto Boom

Nasdaq-Listed DeFi Technologies Sets Up Shop in Dubai to Tap MENA’s Crypto Boom

July 4, 2025
Analyst Says This ‘Classic Confirmation’ Must Happen First

Analyst Says This ‘Classic Confirmation’ Must Happen First

July 4, 2025
Bitcoin Treasury Companies Are Bubbles

Bitcoin Treasury Companies Are Bubbles

July 4, 2025
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at SB Crypto Guru News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.