bitcoin
Bitcoin (BTC) $ 22,987.16
ethereum
Ethereum (ETH) $ 1,566.80
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 305.04
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.409006
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.087653
cardano
Cardano (ADA) $ 0.380856
solana
Solana (SOL) $ 23.86
matic-network
Polygon (MATIC) $ 1.14
polkadot
Polkadot (DOT) $ 6.35
tron
TRON (TRX) $ 0.063032
bitcoin
Bitcoin (BTC) $ 22,987.16
ethereum
Ethereum (ETH) $ 1,566.80
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 305.04
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.409006
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.087653
cardano
Cardano (ADA) $ 0.380856
solana
Solana (SOL) $ 23.86
matic-network
Polygon (MATIC) $ 1.14
polkadot
Polkadot (DOT) $ 6.35
tron
TRON (TRX) $ 0.063032
-3.1 C
Chicago
HomeCoinsBlockchainAmber Group Secures $300M Funding Led by Fenbushi Capital US

Amber Group Secures $300M Funding Led by Fenbushi Capital US

  • Amber has opted to delay its Sequence B fundraising and undergo with its Sequence C funding.
  • As of the spherical’s midpoint in December 2022, Amber had collected $50 million.

The blockchain-focused enterprise capital agency Fenbushi Capital US has led Amber group’s new $300 million Sequence C funding spherical, the enterprise introduced on Twitter on December 15. Because of the FTX collapse, Amber has opted to delay its Sequence B fundraising. And undergo with its Sequence C funding as an alternative.

Amber had been near finishing a Sequence B extension at a $3 billion worth earlier than the FTX disaster. In response to prior stories, the agency meant to hunt $100 million as a part of the Sequence B fundraising, with the deal anticipated to be accomplished by January 2023. As of the spherical’s midpoint in December 2022, Amber had collected $50 million.

Determined Funding Submit FTX Fall

Furthermore, Amber stated it plans to make use of the latest infusion of capital from Fenbushi to compensate for “important drawdowns” in a number of of its merchandise after the FTX collapse.

Amber stated that the corporate’s determination to shift its fundraising method and scale back assets allotted to mass client initiatives and “non-essential enterprise traces” was prompted by this actuality. Due to this, Amber has canceled its enlargement into Europe and the USA, in addition to different metaverse-related initiatives.

Furthermore, the agency acknowledged that it needed to lay off some workers due to the FTX outbreak. There have been stories that between September and December of 2022, Amber fired greater than 40 p.c of its workforce.

See also  Ava Labs Launches Cellular Model of Flagship Multichain Pockets

Amber hasn’t given up on its acquisition targets regardless of abandoning progress plans and slicing employees. Amber purchased Sparrow Holdings, a cryptocurrency trade primarily based in Singapore, on December 14 for a sum that was not revealed.

Warner Music Group Invests in Digital Clothes Agency ‘DressX’

CoinsTeacher

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Explore More

Related Articles