“We made a quick decision to basically pause that previous round,” he said, adding that the new Series C round is being led by venture capital firm Fenbushi Capital US. The valuation is lower than the US$3 billion achieved in February, Wu said, while declining to give an exact number.
Embattled crypto firm Amber Group has raised US$300 million ($406.4 million) mainly for customers who lost money on the platform’s products due to FTX’s implosion, according to co-founder and and Chief Executive Officer Michael Wu.
Amber, a leading crypto trading and lending platform, had planned to raise US$100 million at a US$3 billion valuation in multiple parts, but changed tack once Sam Bankman-Fried’s FTX exchange blew up, Wu said in an interview.
