Crypto Firm Amber Raises $300 Million to Tackle Damage From FTX

Dec 16,2022
KingData News: 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, according to co-founder and and Chief Executive Officer Michael Wu. Amber, a leading crypto trading and lending platform, had planned to raise $100 million at a $3 billion valuation in multiple parts, but changed tack once Sam Bankman-Fried’s FTX exchange blew up, Wu said in an interview. Investors: This round of funding was led by Fenbushi Capital US. Project Info: Founded in 2017 and headquartered in Hong Kong, Amber Group is the industry's leading global provider of crypto financial intelligence services. Amber Group has a global footprint, trading on over 100 electronic trading platforms worldwide, with offices in Taipei, Seoul, and Vancouver, and providing 24/7 service to over 500 large, well-known institutions.
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