Difference between revisions of "Amber Group"

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== Basics ==
== Basics ==


* Based in Asia
* Founded in [https://thedefiant.io/amber-group-denies-insolvency-claims 2018]
* Crypto trading and market-making firm of
*Based in [https://thedefiant.io/amber-group-denies-insolvency-claims Singapore]
* Crypto trading and market-making firm


== Projects ==
== Projects ==
Line 10: Line 11:
*[https://www.theblockcrypto.com/post/73545/defi-project-keeperdao-seed-round From] [[The Block]] (31-7-2020):
*[https://www.theblockcrypto.com/post/73545/defi-project-keeperdao-seed-round From] [[The Block]] (31-7-2020):


"''The [[KeeperDAO (ROOK)|KeeperDAO]] project was first [https://medium.com/keeperdao/introducing-keeperdao-an-on-chain-liquidity-underwriter-dbb63731f4a5 revealed] in December, as a joint effort between Amber Group and [[Talo Systems]]. Amber is Kullander's crypto trading and market-making firm, and Talo is a [[blockchain]] research firm run by [[Taiyang Zhang]], who is also the CEO of DeFi protocol [[Ren]]. Kullander and Zhang jointly manage the KeeperDAO project."''
"''The [[KeeperDAO (ROOK)|KeeperDAO]] project was first [https://medium.com/keeperdao/introducing-keeperdao-an-on-chain-liquidity-underwriter-dbb63731f4a5 revealed] in December, as a joint effort between Amber Group and [[Talo Systems]]. Amber is Kullander's crypto trading and market-making firm, and Talo is a [[blockchain]] research firm run by [[Taiyang Zhang]], who is also the CEO of [[DeFi]] protocol [[Ren]]. Kullander and Zhang jointly manage the [[KeeperDAO]] project."''
 
=== TRON DAO ===
 
* It is [https://messari.io/report/state-of-tron-q3-2022?referrer=all-research one of the] [[whitelisted]] institutions of the TRON DAO Reserve (TDR), which governs the overcollateralization of [[USDD]] (4-11-2022).


== Investments ==
== Investments ==


* [[MathWallet|MATH]] got $12M funding from [[Binance]] (17-12-2020). [[NGC Ventures]], C6E (Capital6 Eagle) and Amber Group also co-led this round of funding.  
* According to this [https://twitter.com/ThorHartvigsen/status/1626204769189605377 thread] (16-2-2023):
''"Total Balance $245m • $119m $ETH • $74m $USDC/$USDT • $21.5m $FET • $8.3m $DYDX • $3.6m $wBTC • $2.2m $[[SWISE]] • $1.8m $CVX Smaller positions ($100k-$1m) include: $[[Polygon (MATIC)|MATIC]], $[[Aave (AAVE)|AAVE]], $[[Chainlink (LINK)|LINK]], $[[GRT]], $[[Lido (LDO)|LDO]], $[[SYN]], $[[FTM]]. All of the $20m+ $FET (FetchAI) seems to have been bought the past three days. Further, Amber has recently interacted with a wallet holding $17m $ETH, $8m $[[RNDR]] and $5m $MATIC. Potentially theirs as well."''
*From [[The Defiant]] (7-12-2022):
''"[[Lookonchain]] [https://twitter.com/lookonchain/status/1600071536114733058 said] six [[Wallet|wallets]] allegedly owned by Amber have only $9.46M in assets between them — Amber claims on its website to have over $5B “on its platform” and to be responsible for $1T of trading volume. [[Jason Choi]], founder of [[Tangent]], an angel investing collective, shared [https://zapper.fi/bundle/0xe11970f2f3de9d637fb786f2d869f8fea44195ac,0x12b5c9191e186658841f2431943c47278f68e075,0x5293551532ceadde07c58651be8b06df7521b91f,0x4bf2c1a46a6246ca99e55fd6372d65f63c67be28,0xa337321a3b9909aec6e7053ef8e8fdb24e4614f2,0xef82e7e85061bd800c040d87d159f769a6b85264,0x94b27b52e0a188c3d5c4be7e39d04094cbf1a5bf,0xbb98f2a83d78310342da3e63278ce7515d52619d?label=Amber&id=0x2dd435dfdf0fda54634be39a0fbb23d9a6365111 two additional] wallets, bringing the value of Amber’s on-chain assets up to $11.1M.''


* [[UMA (UMA)|UMA]]. Took part in the [https://medium.com/uma-project/uma-raises-2-6mm-in-the-pilot-of-the-range-token-de5be578fa5e Range Token] raise for UMA of $2.66M (16-7-2021).
''Annabelle Huang, managing partner at Amber, [https://twitter.com/_annabellehuang/status/1600083120887590913 denied] the allegations. The company did not respond to an email requesting clarity on its financial position but put out a [https://twitter.com/ambergroup_io/status/1600101239294787584 statement] echoing Huang’s."''
*[[Arbitrum (ARB)|Arbitrum]]; Amber Group [https://twitter.com/lookonchain/status/1639871391838404608 became] the 14th $ARB holder after receiving a total of 8.59M $ARB ($10.5M) from OKX, KuCoin, and [[Bybit]] (26-3-2023). Only 5 days later Amber already [https://twitter.com/lookonchain/status/1641636709736808449?s=20 sold half] and held "only" 4.47M ARB.
*[[Babylon]]; part of their [https://x.com/babylon_chain/status/1796171723471258091 $70M pre-launch] round (30-5-2024).
*[[Berachain (BERA)|BeraChain]]; part of the [https://twitter.com/berachain/status/1778776309927191012 Series B $100M] (12-4-2024).
*[[IoTex (IOTX)|IoTex]]; was [https://twitter.com/i/web/status/1775242593460207965 part] of their [[DePIN]] ecosystem $50M fund (3-4-2024).
*[[MathWallet|MATH]] got $12M funding from [[Binance]] (17-12-2020). [[NGC Ventures]], C6E (Capital6 Eagle) and Amber Group also co-led this round of funding.
*[[RedStone]]; part of their [https://x.com/redstone_defi/status/1808140124468699395 $15m Series A] round (2-7-2024).
*[[Shardeum (SHM)|Shardeum]]; part of the [https://www.theblock.co/post/238477/wazirx-founders-shardeum-raises-5-4-million-in-strategic-funding strategic round] (7-7-2023).
*[[Taiko]]: part of the [https://www.theblock.co/post/280268/ethereum-layer-2-taiko-funding-mainnet $15M] pre-mainnet Series A (2-3-2024).
*[[UMA (UMA)|UMA]]. Took part in the [https://medium.com/uma-project/uma-raises-2-6mm-in-the-pilot-of-the-range-token-de5be578fa5e Range Token] raise for UMA of $2.66M (16-7-2021).  


== Team ==
== Team, Partners ==


* Tiantian Kullander; co-founder
* Annabelle Huang; managing partner
*Tiantian Kullander; co-founder, he [https://www.ambergroup.io/newsDetail?id=444&source=inTheNews passed away] unexpectedly in his sleep on Nov. 23, 2022.
*Laid off hundreds of employees in December after letting 30% to 40% of its staff go in September, 2022 [https://twitter.com/WuBlockchain/status/1600018582212988929 according] to Colin Wu, a reporter focused on crypto developments in Asia. Amber [https://thedefiant.io/amber-group-denies-insolvency-claims raised] $200M in March in a funding round that valued the company at $3B. Temasek, the Singaporean sovereign wealth fund with $300B in assets, led the round.
*Had <10% of trading capital [https://www.mollywhite.net/etc/ftx-contagion within] FTX (10-12-2022).
*Owes around $130 million to troubled crypto lender Vauld's CEO Darshan Bathija ([https://www.theblock.co/post/193616/amber-group-vauld-ceo-counterparty1-a-130-million?utm_campaign=Delphi%20Daily&utm_medium=email&_hsmi=237345064&utm_content=237345064&utm_source=hs_email 9-12-2022]). Raised $[https://twitter.com/ambergroup_io/status/1603608618216984576? 300M] led by [[Fenbushi Capital]] US (16-12-2022)
*Mentioned as a [https://www.bitdao.io/ partner] on the [[BitDAO (BIT)|BitDAO]] website (8-3-2022).

Latest revision as of 01:57, 8 July 2024

Basics

  • Founded in 2018
  • Based in Singapore
  • Crypto trading and market-making firm

Projects

KeeperDAO

"The KeeperDAO project was first revealed in December, as a joint effort between Amber Group and Talo Systems. Amber is Kullander's crypto trading and market-making firm, and Talo is a blockchain research firm run by Taiyang Zhang, who is also the CEO of DeFi protocol Ren. Kullander and Zhang jointly manage the KeeperDAO project."

TRON DAO

  • It is one of the whitelisted institutions of the TRON DAO Reserve (TDR), which governs the overcollateralization of USDD (4-11-2022).

Investments

  • According to this thread (16-2-2023):

"Total Balance $245m • $119m $ETH • $74m $USDC/$USDT • $21.5m $FET • $8.3m $DYDX • $3.6m $wBTC • $2.2m $SWISE • $1.8m $CVX Smaller positions ($100k-$1m) include: $MATIC, $AAVE, $LINK, $GRT, $LDO, $SYN, $FTM. All of the $20m+ $FET (FetchAI) seems to have been bought the past three days. Further, Amber has recently interacted with a wallet holding $17m $ETH, $8m $RNDR and $5m $MATIC. Potentially theirs as well."

"Lookonchain said six wallets allegedly owned by Amber have only $9.46M in assets between them — Amber claims on its website to have over $5B “on its platform” and to be responsible for $1T of trading volume. Jason Choi, founder of Tangent, an angel investing collective, shared two additional wallets, bringing the value of Amber’s on-chain assets up to $11.1M.

Annabelle Huang, managing partner at Amber, denied the allegations. The company did not respond to an email requesting clarity on its financial position but put out a statement echoing Huang’s."

Team, Partners

  • Annabelle Huang; managing partner
  • Tiantian Kullander; co-founder, he passed away unexpectedly in his sleep on Nov. 23, 2022.
  • Laid off hundreds of employees in December after letting 30% to 40% of its staff go in September, 2022 according to Colin Wu, a reporter focused on crypto developments in Asia. Amber raised $200M in March in a funding round that valued the company at $3B. Temasek, the Singaporean sovereign wealth fund with $300B in assets, led the round.
  • Had <10% of trading capital within FTX (10-12-2022).
  • Owes around $130 million to troubled crypto lender Vauld's CEO Darshan Bathija (9-12-2022). Raised $300M led by Fenbushi Capital US (16-12-2022)
  • Mentioned as a partner on the BitDAO website (8-3-2022).
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