Coinspeaker
Amber Group Changes Fundraising Strategy, Announces $300M Series C Round
Crypto trading company Amber Group revised its fundraising plans to raise a $300 million Series C round, in response to the fall of crypto exchange FTX.
The round was led by Fenbushi Capital US, in addition to other crypto investors and family offices. Singapore’s investment fund Temasek, famous venture capital company Sequoia Capital China and Coinbase Ventures have also formerly invested in Amber Group, which is explained on the information platform Crunchbase.
While less than ten percent of Amber Group’s trading capital was with the FTX exchange when it collapse, some specific products would have undergone massive drawdown as a consequence of the FTX fall, unless they could look for stronger strategies to safeguard the clients.
The trading company has now planned to shift from its struggles to introduce a Series B+ round at a $3 Billion valuation in favor of a Series C. Following the FTX downfal
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