Difference between revisions of "Amber Group"

Latest revision as of 01:57, 8 July 2024

Basics

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

Projects

KeeperDAO

From The Block (31-7-2020):

"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."

From The Defiant (7-12-2022):

"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."

Arbitrum; Amber Group 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 sold half and held "only" 4.47M ARB.
Babylon; part of their $70M pre-launch round (30-5-2024).
BeraChain; part of the Series B $100M (12-4-2024).
IoTex; was part of their DePIN ecosystem $50M fund (3-4-2024).
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 $15m Series A round (2-7-2024).
Shardeum; part of the strategic round (7-7-2023).
Taiko: part of the $15M pre-mainnet Series A (2-3-2024).
UMA. Took part in the Range Token raise for UMA of $2.66M (16-7-2021).

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).

@@ Line 30: / Line 30: @@
 *[[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).