Amber Group Reduces Valuation, Seeks Additional $100 Million

Tumultuous market conditions caused crypto trading platform Amber Group to reduce its valuation as the company pursues a new funding round.

Amber Group now seeks $100 million at the same $3 billion valuation it previously raised, Bloomberg first reported, citing anonymous sources. The company in February was valued at $3 billion as it raised $200 million, led by wealth fund Temasek, and joined by Sequoia China, Pantera Capital, Tiger Global Management, True Arrow Partners and Coinbase Ventures.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.

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