3 months ago 1 min read

Speculations Lead to Amber Group's $300 Million Series C Funding as Debt-to-Equity Exchange


There are several strange and perplexing elements about Amber Group's recent $300 million C-round funding, including questions over whether there is any kind of "debt-to-equity swap." Although it is unusual for Fenbushi to be the only publicly announced investor in such a significant amount of finance, Fenbushi America led the $300 million US transaction.

It's also odd to use the phrase "300 million US dollars." According to the company, the "300 million US dollars" of the C round of financing will be used for users who have suffered losses on Amber platform items as a result of FTX's collapse and arbitrage products between exchanges. This was mentioned in an interview with Bloomberg. This description is also strange.

Finally, Amber mentioned that FTX only has less than 10% of the funds, however she did not specify how much. The company stated in a press release at the beginning of the year that it oversees $5 billion USD in assets. Vauld owes Amber approximately $130 million, which she must repay by June 2023. After consuming user funds, Vauld filed for bankruptcy and now owes its creditors over $400 million. Amber is enraged and plans to file a lawsuit for inaccurate information (prosecution).

Amber has declared that it would leave the retail industry and has decreased its employees from 1300 to 300. Amber's previous big mistakes were carelessly increasing the scale of personnel, unnecessarily extending the company to different industries like the DeFi Metaverse NFT, and lavishly supporting football teams like Chelsea. This $300 million investment round's true state is still being investigated.

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