{"id":42241,"date":"2022-12-15T19:05:48","date_gmt":"2022-12-15T23:05:48","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=42241"},"modified":"2022-12-15T19:05:51","modified_gmt":"2022-12-15T23:05:51","slug":"amber-group-acquires-cryptocurrency-platform-sparrow-exchange","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/amber-group-acquires-cryptocurrency-platform-sparrow-exchange\/","title":{"rendered":"Amber Group acquires cryptocurrency platform Sparrow exchange"},"content":{"rendered":"\n
Amber Group has acquired fellow Singaporean crypto bourse Sparrow<\/a>, in the midst of ongoing concerns about the former\u2019s financial health. <\/h5>\n\n\n\n
\"Amber
Amber Group acquires cryptocurrency platform Sparrow exchange<\/figcaption><\/figure>\n\n\n\n

According to a Dec. 14 release, the cryptocurrency trading business Amber Group<\/a>, which had about 10% of its trading money locked on FTX at the time of the exchange's collapse, has bought the Singaporean cryptocurrency platform Sparrow Holdings.<\/p>\n\n\n\n

The Monetary Authority of Singapore granted Sparrow Holdings a payments license in August so that it could offer Digital Payment Token services<\/a> in Singapore in accordance with the Payment Services Act. <\/p>\n\n\n\n

Sparrow Holdings provides products and solutions for digital assets. Sparrow, a company founded in 2018, designs tailored digital asset solutions with financial institutions and family offices to meet customer-centric growth goals while upholding compliance standards.<\/p>\n\n\n\n

The Amber Group receives the acquisition news at a delicate moment. Tiantian Kullander\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, popularly known as “TT,” the co-founder of the Amber Group, tragically went away in his sleep on November 23 at the age of 30, according to a story from November 25.<\/p>\n\n\n\n

Shortly after the revelation of the death, news broke that the digital asset company had halted its expansion ambitions due to the failure of FTX and its ripple effects on the market. <\/p>\n\n\n\n

Managing partner Annabelle Huang claims that the FTX epidemic<\/a> has pushed Amber to lower the priority of its new metaverse project. The company apparently reduced its employment as well, firing up to 40% of its employees in September and continuing to do so through December.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amber Group has acquired fellow Singaporean crypto bourse Sparrow, in the midst of ongoing concerns about the former\u2019s financial health. According to a Dec. 14 release, the cryptocurrency trading business Amber Group, which had about 10% of its trading money locked on FTX at the time of the exchange’s collapse, has bought the Singaporean cryptocurrency […]<\/p>\n","protected":false},"author":43,"featured_media":42243,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12609,12679],"class_list":["post-42241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-amber-group","tag-invesments"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/jpg_20221215_235445_0000.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=42241"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/42243"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=42241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=42241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=42241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}