Singapore-based Amber Group, one of Asia’s largest crypto exchanges, cuts 40% of its staff, scraps retail operations, and terminates its Chelsea FC sponsorship (Hannah Miller/Bloomberg)

Hannah Miller / Bloomberg:
Singapore-based Amber Group, one of Asia’s largest crypto exchanges, cuts 40% of its staff, scraps retail operations, and terminates its Chelsea FC sponsorship  —  Amber Group, one of Asia’s leading crypto trading and lending platforms, is cutting jobs, scrapping retail operations and terminating …

Hannah Miller / Bloomberg:
Singapore-based crypto trading platform Amber Group raised a $300M Series C led by Fenbushi Capital US, at less than its February valuation of $3B  —  Embattled crypto firm Amber Group has raised $300 million mainly for customers who lost money on the platform’s products due to FTX’s implosion …

Krisztian Sandor / CoinDesk:
A look at what went wrong at decentralized lending protocol Maple Finance, as $54M in loans, or 66% of its lending pools, turn bad and what could happen next  —  Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade.

Nelson Wang / CoinDesk:
Genesis’ crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.

Tim Copeland / The Block:
Orthogonal Trading defaults on eight loans to lending protocol Maple Finance totaling $36M, or ~30% of active loans on the protocol, likely due to FTX exposure  —  – Orthogonal Trading has defaulted on eight loans totalling $36 million on lending protocol Maple Finance.

Amrith Ramkumar / Wall Street Journal:
Ticketing service SeatGeek raised a $238M Series E at a ~$1.2B valuation after terminating a SPAC deal with Forbes in early June  —  Created with sketchtool.  —  SeatGeek has raised $238 million privately from investors including Wellington Management after recently terminating a merger …