Amber Group reduces valuation, seeks additional $100 million: Bloomberg

Quick Take

  • Crypto trading platform Amber Group lowered its valuation to the $3 billion at which it previously raised, as the company seeks an additional $100 million from investors.

Tumultuous market conditions caused crypto trading platform Amber Group to reduce its valuation as the company pursues a new funding round.

Amber Group now seeks $100 million at the same $3 billion valuation it previously raised, Bloomberg first reported, citing anonymous sources. The company in February was valued at $3 billion as it raised $200 million, led by wealth fund Temasek, and joined by Sequoia China, Pantera Capital, Tiger Global Management, True Arrow Partners and Coinbase Ventures.

Amber attempted to raise again at a much higher valuation between $5 billion-$8 billion, but given a general slump in the crypto market, those funds never materialized.

The adjustments for Amber extend beyond fundraising efforts. Amber recently cut as many as 10% of its staff citing the bear market.

Cautious even with a 25% climb in revenue, the company’s head of business development, Annabelle Huang, previously told The Block that the company will be prudent while bearish conditions persist.


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Markets slumped after a peak just over $3 trillion in November 2021, data from The Block Research show.

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About Author

Jeremy Nation is a senior reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.


To contact the editor of this story:
Madhu Unnikrishnan at
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