Odaily Planet Daily News: Three people familiar with the matter revealed that crypto investment management company Abra is restructuring several of its business lines and considering cost cuts as a buffer against the bear market. People familiar with the matter said that the measures taken by Abra's senior management include small-scale layoffs in the company's sales, trading and research departments. Abra also plans to create a new position to recruit a chief investment officer. The heads of Abra's trading, credit and asset management departments will report to the chief investment officer, who will be tasked with conducting corresponding supervision and determining how to allocate capital to each department. People familiar with the matter said that such a setting will simplify and strengthen internal communication methods and improve the efficiency of trading and fund operations. (Blockworks) As previously reported, in September this year, crypto investment management company Abra plans to launch a digital asset bank Abra Bank, which will enable US citizens to use digital assets for deposits and banking in a manner similar to traditional banking. The bank plans to set up institutions in various states in the United States and become the first regulated cryptocurrency bank in the United States. It also plans to launch a global project Abra International to serve customers outside the United States.