Cryptocurrency

Crypto Investment Firm Amber Group Raises $100M In The Latest Funding Round

China Renaissance and various other venture funds such as Gobi Partners, DCM Ventures, Arena Holdings, Tiger Global Management, and Tiger Brokers participated in investing in the funding round of Series B. In this respect, Amber Group (a platform for cryptocurrency investment) has gathered $100 million. It became an outstanding fundraiser for Series B by carrying the valuation sum of its pre-money to $1 billion. The move is considered to be a milestone in the history of the firm as it is entering the fourth year of its operations.

Michael Wu, the CEO, and co-founder of Amber Group stated that the client demand and the development of the market solutions for the prominent crypto investors around the world would be assisted by expanding the operations of the firm with the help of cash injection.

Over the past four years, on a general scale, all the under-management assets and trade measured a notable spike in the Amber Group. Currently, the company possesses a $500 billion value of the total trade volumes and $1 billion for the under-management assets. It was disclosed by Wu that the company had been doing continuous over the months in the past quarter in both fields of client flow and market-making volumes. He further expressed that the company has been accounting for the 2-3% of the sum of trading volumes in derivative markets and major spot since it started making progress in a flow. As a result, a significant increase has been seen in the total trading volumes, which doubled their worth from $250 billion (at the start of the year) to more than $500 billion.

Amber Group is listed 21st of the global exchanges according to the data provided by BitMEX. In 2020, the assets of Amber were expedited to $530 million, which indicates a 275% boost up from the previous year. In this regard, several of the largest venture funds of blockchain are directly funding Amber Group, such as Blockchain.com, Coinbase Ventures, and Pantera Capital.

A lot of money has been invested by the venture funds into the crypto-economy for the last six months, which shows their confidence in the latest asset class. Solana Labs concluded the private sale of tokens valuing $314 million in the current month. $14 million have been contributed by Salesforce to TRM Labs. $65 million have been raised by a DeFi exchange, named ‘dydx,’ through a fundraiser of Series C.

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