Crypto Firm Amber Raises $300M to Tackle FTX Damage

The company, initially valued at $3 billion, had to pivot its fundraising strategy due to the FTX collapse, raising $300 million for institutional clients at a lower valuation. The company is refocusing on its core institutional clients, reducing its workforce from 1100 to over 300. Trading volumes have decreased, and the company is aiming for a leaner operation. Contagion risks remain a concern, especially after ending a sponsorship with Chelsea FC. The company is based in Singapore and is closely watched for its future moves.

What significant change did the company make in response to the collapse of FTX?

What was the company's strategy regarding its services to retail customers?

How did the company's workforce change from its peak?

What percentage of their trading capital was trapped on FTX during the collapse?

What concerns did the CEO express about the market's future?