Amber attempted to raise again at a much higher valuation between $5 billion-$8 billion, but given a general slump in the crypto market, those funds never materialized.
The adjustments for Amber extend beyond fundraising efforts. Amber recently cut as many as 10% of its staff citing the bear market.
Cautious even with a 25% climb in revenue, the company’s head of business development, Annabelle Huang, previously told The Block that the company will be prudent while bearish conditions persist.
The adjustments for Amber extend beyond fundraising efforts. Amber recently cut as many as 10% of its staff citing the bear market.
Cautious even with a 25% climb in revenue, the company’s head of business development, Annabelle Huang, previously told The Block that the company will be prudent while bearish conditions persist.