• Wed. Jun 12th, 2024

A Fresh Funding Round Helps Amber Group Gain $1 Billion Valuation

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Jun 18, 2021

As per the latest reports, Amber Group has made the announcement in regards to the completion of a funding round. The company has revealed that it has managed to generate a significant amount of funds from the recent funding round.

The Amber Group has revealed that it has managed to generate $100 million from the particular funding round. Amber Group is a prominent financial services firm that deals in cryptocurrencies. The firm has revealed that it received a lot of support from investors and industrialists for its recent round.

The Amber Group is a cryptocurrency-related firm that is based in Hong Kong. With the completion of the recent $100 million funding round, the company is now valued at $1 billion.

The officials from the Amber Group had confirmed that the particular funding round was led by China Renaissance, an investment bank. The funding round also received the backing of several high-profile investors and firms making it a huge success.

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One of the most high-profile investors in the particular $100 million funding round was Tiger Global Management, a New York-based company. Furthermore, many former contributors also took part in the recent funding round. One of the most honorable existing investors was the venture arm of Coinbase.

The recent funding round that took place at Amber Group has caused a huge frenzy in the entire cryptocurrency industry. The entire cryptocurrency industry is excited to know about the success of the recent funding round. They are hopeful that something very promising would come out of the funding that was raised by the Amber Group.

The year 2021 is turning out to be something on an entirely different level when it comes to funding rounds. So far, in the second quarter of 2021, the total funding generated from the blockchain and cryptocurrency investment rounds by venture capital firms is $14 billion.

When compared to the same quarter in the last year, the funding generating from Q2 2020 was just $600 million. This means that cryptocurrency and blockchain investments have surged tremendously in the year 2021.

Ever since the year 2021 has started, more investors and mainstream institutions are moving to this platform. The cryptocurrency industry has gained tremendous growth and experiencing a significant adoption rate since the start of 2021.

Major companies from around the world such as PayPal, Tesla, Square, MicroStrategy, Visa, MasterCard, and so many other companies have made investments in cryptocurrencies.

Among the rest of the cryptocurrencies, Bitcoin (BTC) is the one with the most amount of adoption and growth. Towards the end of 2020, the price of Bitcoin (BTC) rose all the way up to $23k per BTC. However, in mid-April, its price hit an all-time high of $64k per BTC.

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