THELOGICALINDIAN - Amber Group a Hong Kongbased cryptocurrency trading aggregation has accomplished unicorn cachet The aggregation managed to accession 100 actor in its Series B allotment annular With the new arrival the aggregation is now admired at one billion dollars authoritative it a unicorn Amber Groups action is said to accomplish them bazaar aloof acceptance barter to accumulate assets in bullish or bearish markets
Amber Group Reaches Unicorn Status
Amber Group, an algebraic trading company, accomplished unicorn cachet in its latest allotment round. The company, formed by above Morgan Stanley traders about entirely, aloft $100 actor in its Series B allotment round. The annular was led by DCM Ventures and Tiger Global Management, with accord from China Renaissance Group, Tiger Brokers, Gobi Partners, and Coinbase Global. This arrival of funds pushed the appraisal of the aggregation to one billion dollars.
The funds acquired will serve to aggrandize Amber Group’s operations through hiring in development and acquiescence areas. The aggregation additionally said it capital to aggrandize its operations to added jurisdictions.
Amber Group’s business is simple, but it has a twist. It is a trading aggregation that buys and sells cryptocurrencies to accomplish a accumulation from bazaar volatility. This action includes funds from the aggregation and funds from their barter as well. But Amber Group does this with a twist: it uses algebraic methods to account timing of investments in bitcoin and ether.
This activity was built-in in 2015 back a accumulation of Morgan Stanley traders capital to devise a safer and smarter way of trading assets algorithmically. Michael Wu, CEO of Amber Accumulation told Fortune that:
Ready for Bear Markets
Its atypical trading systems and strategies reportedly acquiesce Amber Group investments to be assisting in bullish and bearish markets. This is because Amber Groups algorithms abject their trades on bazaar volatility. According to its CEO, the acquirement in Q2 2021 has tripled the numbers for the aboriginal quarter, alike with the abundant losses the bazaar has experienced. Wu stated:
In accession to this, Wu fatigued trading volumes had angled back the alpha of the year, with the close actuality assisting back its founding.
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