Share this article
Crypto Trading Firm Amber Group Raises $300M Series C After FTX Contagion
The collapse of FTX had impacted some of the trading firm's products and customers, increasing the need to quickly raise additional capital.
Updated May 9, 2023, 4:04 a.m. Published Dec 16, 2022, 6:13 a.m.
Crypto trading firm Amber Group changed its fundraising strategy to raise a $300 million Series C round, as a reaction to the collapse of crypto exchange FTX.
The round was led by Fenbushi Capital U.S., and other crypto investors and family offices, the firm said on Twitter. Singapore's investment fund Temasek, heavyweight venture capital firm Sequoia Capital China and Coinbase Ventures have previously invested in Amber Group, according to information platform Crunchbase.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
While less than 10% of Amber Group's trading capital was with the defunct FTX when it imploded, there were certain products that "would have experienced significant drawdowns as an aftermath of the FTX default" unless they could find better ways to protect customers, the trading firm tweeted on Friday.
The trading firm decided to move from its efforts to raise a Series B+ round at a $3 billion valuation in favor of a Series C. "Post the FTX collapse, we paused [the series B+ fundraise] after a partial closing and instead moved forward on Series C," Amber Group said.
The trading firm had reportedly laid off 40% of its staff, 300 employees, restricted employee benefits and terminated a $25 million sponsorship deal with Chelsea Football Club, following the FTX collapse.
In the tweet thread announcing the fundraise, Amber Group admitted that it had to "say goodbye" to "many" colleagues as it decided to scale down "mass consumer efforts and non-essential business lines." The Series C investors "came on board" understanding that the firm would be "laser-focused."
As the layoffs were announced, Amber Group was also spending. The crypto trader reportedly bought a Singapore-regulated crypto platform.
The bankruptcy of crypto exchange FTX has spread through the industry, exacerbating an already bleak market. Numerous companies, including majors like Bybit, have slashed employee counts amid a market downturn that has lasted several months.
Read more: Crypto Trading Firm Amber Group Ditches $25M Chelsea Sponsorship Deal Amid Layoffs: Report
Больше для вас
Что нужно знать:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
