Amber Group raises $300 million in Series C funding amid cryptocurrency market turmoil

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The cryptocurrency community was recently shaken by the news of the bankruptcy of FTX, one of the largest cryptocurrency exchanges in the world. However, amid this turmoil, Amber Group, a Sequoia and Temasek-backed company, has announced the successful completion of a $300 million Series C fundraising round.

The round was led by Fenbushi Capital US, along with other cryptocurrency investors and family offices. This significant investment will allow Amber Group to continue expanding its operations and solidifying its position as a leading player in the cryptocurrency market.

The news of Amber Group’s successful fundraising comes at a time when many are questioning the stability of the cryptocurrency market. FTX’s collapse has had a ripple effect, with the company reportedly laying off 300 people, or 40% of its workforce, and canceling a $25 million sponsorship deal with Chelsea Football Club.