Amber Group

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."

• MATH got $12M funding from Binance (17-12-2020). NGC Ventures, C6E (Capital6 Eagle) and Amber Group also co-led this round of funding.
• 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).