The funds will reach clients affected by the FTX crash, Amber Group outlined.
Amber Group – a cryptocurrency platform backed by Singapore’s investment company Temasek – completed a $300 million funding round. The money will be distributed to clients affected by the FTX collapse.
The company, which had to cope with severe issues due to the ongoing bear market, recently acquired the Singaporean exchange – Sparrow Holdings.on Twitter, the Series C fundraiser was led by Fenbushi Capital US. Amber Group said the move shows “investor confidence” in the firm’s operations and commitment to cooperate with the platform despite its recent issues.
“As part of that future, it’s important for us to adapt and protect our clients in this challenging market environment,” the platform stated. As previously revealed, Amber Group did not have exposure to FTX or Alameda Research. On the other hand, it has been an “active trading participant” in the bankrupt trading venue.
The funds from the latest funding round will reach those clients who lost money on the platform’s products due to the
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