Amber Group announced that it had completed $300 million in a Series C round, led by Fenbushi Capital US, followed by other crypto-native investors and family offices.
Amber Group stated that before the FTX collapse, Amber conducted a B+ round of financing at a valuation of $3 billion to prepare for a possible extended encryption winter and continued to conduct a C round of financing after the FTX collapse. Backed by investors, its priority for 2023 is to focus on its core business and customers.
According to a previous article by Coincu, less than 10% of Amber’s entire trading capital was with FTX at the time of its demise, although the company did have to rebalance some holdings.
While most of its clients and products remained unaffected, the FTX failure would have resulted in huge losses for a handful of the company-specific products.
Due to slow business development and market volatility, the Singapore-based company informed staff this week that performance bonuses will be phased out in 2022. Amber Group also recently announced it had bought Singaporean crypto exchange Sparrow.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…
This website uses cookies.