As the crypto world continues to grow, Asia has taken great strides within it. As it stands now, a minimum of 80% of the world\u2019s crypto trading is done within the Asian continent. As one would imagine, the Western crypto industries have borne witness to this new trend, very eagerly trying to dip their fingers in the pie.<\/p>\n
The top crypto investors of the US, Paradigm, Pantera Capital, Coinbase, PolyChain, and Dragonfly have all taken part<\/a> in this new venture opportunity. The companies have collectively sunk $28 million into Amber, a Hong Kong-based company with a valuation totaling in at $100 million.<\/p>\n
Amber was founded back in 2015. Five bold twenty-somethings within Hong Kong, four of which former traders at Morgan Stanley<\/a>, founded a company named Amber AI. Initially, the group focused primarily on AI algorithms to trade various securities, Chinese stocks included. However, the group quickly discovered the enormous volatility of crypto in during the 2017 year of the crypto bubble<\/a>. There was a rife opportunity for arbitrage within that time, something that shocked even the Amber team. They were able to buy Bitcoin<\/a> at $7,300, then proceeded to sell it for $7,700 on another exchange. The gain was pocketed, making a pleased trader.<\/p>\n
Tiantian Kullander, the CFO of Amber, fondly recalled the first time the team tried it out. They explained that they simply couldn\u2019t believe what they were seeing. The Amber team had come from a primarily fixed income, bond trading market. Volatility was next to nothing, and Kullander explained that they had to fight for every basis point they earned in that market.<\/p>\n
Just last year, Amber managed to garner anything between $10 million and $20 million in revenue. The net profit margins were always above 50%, as well. Kullander aims to double this revenue numbers in 2020, he says. With that amount of cash injection, the company will have a good start. Amber has already proved itself a capable company, so the likelihood of it going under with even more of a funding injection is next to nothing.<\/p>\n","protected":false},"excerpt":{"rendered":"