News

Despite A Crypto Crash, This Unicorn Is Targeting A $10 Bln Valuation

Singapore-based crypto unicorn Amber Group is reportedly targeting a $10 billion valuation through more funding.
Published by
Despite A Crypto Crash, This Unicorn Is Targeting A $10 Bln Valuation

Singapore-based crypto unicorn Amber Group is reportedly targeting a $10 billion valuation through more funding. The firm had earlier this year raised about $200 million in a series B+ funding round.

A $10 billion valuation would more than triple Amber’s current value, which is at about $3 billion-making it among the most valuable crypto startups. The firm has several prolific stakeholders, including Singapore’s sovereign wealth fund Temasek Group,  Sequoia China and Coinbase Ventures.

The firm, which offers crypto trading services, is now in talks with investors regarding its next capital raise, Bloomberg reported on Friday. But the news also comes amid one of crypto’s steepest declines this year.

Advertisement

Amber has IPO plans

After Amber’s last funding round, CEO Michael Wu said the company will seek another funding round in 2022 before an initial public offering, which is likely to happen next year. The firm is looking at the United States as a potential destination.

The U.S. is already seeing a surge in major crypto IPOs, with world no. 2 exchange Coinbase having listed on the Nasdaq in 2021. Stablecoin operator Circle is set to list this year, as is exchange Blockchain.com.

Amber was founded in 2017 by former Morgan Stanley traders, and services both retail and institutional customers. The firm says it has processed over $1 trillion worth of transactions as of 2022, and has over 1000 institutional clients.

Advertisement

Funding amid a crypto crash?

Still, Amber’s plans for more funding come amid one of the sharpest declines in the crypto market seen this year. Bitcoin slumped over 8% in the past 24 hours, wiping out total crypto market capitalization by about $130 billion.

The latest tumble appears to be on fears of slowing economic growth and rising interest rates across the globe. The prospect of higher interest rates could also make funding more difficult to secure for Amber, as a liquidity boom over the past two years dries up.

Advertisement
Share
Ambar Warrick

With more than five years of experience covering global financial markets, Ambar intends to leverage this knowledge towards the rapidly expanding world of crypto and DeFi. His interest lies chiefly in finding how geopolitical developments can impact crypto markets, and what that could mean for your bitcoin holdings. When he isn't trawling through the web for the latest breaking news, you can find him playing videogames or watching Seinfeld reruns. You can reach him at ambar@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”

Crypto market analyst Adam Livingston has sharply criticized S&P Global Ratings after the agency assigned…

October 28, 2025
  • News

Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain

In a fresh development, a newly registered claim domain has led to speculations that the…

October 27, 2025
  • News

$2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments

Citigroup, a top U.S. bank with $2.5 trillion asset under management has partnered with Coinbase.…

October 27, 2025
  • News

Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates

U.S. Treasury Secretary Scott Bessent has confirmed the final shortlist of contenders to replace Jerome…

October 27, 2025
  • News

Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC

Mt. Gox has once again pushed back its long-awaited Bitcoin (BTC) creditor repayments by a…

October 27, 2025
  • News

Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week

Crypto ETFs record nearly $1 billion in weekly inflows. This marks one of the strongest…

October 27, 2025