A trading firm named Amber recently got a $200 million investment into the firm that tripled their valuation as compared to last year. Now valued at $3 billion the latest investment came from a Singaporean firm called Temasek Holdings.
They were able to secure $200 million in the round B funding and other partners like Sequoia China, Tiger Global Management, Panter Capital also joined in. Tru arrow and Coinbase Adventures were also notable investors in the trading firm.
Last June when Amber was evaluated it stood at $1 billion but has now grown to $3billion. The new money influx will be used to support key factors in expansion in Europe and America. They have $1 trillion in volume when it comes to trading.
The recent investments show the growing confidence of investors in the crypto market and trading firms. Many firms and capitalist ventures have started investing heavily in crypto and hedge funds. People are diversifying tier investments and crypto can be the answer to that.
It is already being called Millenial’s gold as it has outperformed gold and the stock market in the last few years. This performance has been unheard of in recent times and many people have doubled the value of their crypto portfolios in recent times.
This is a good enough reason for people to add crypto to their portfolios and diversify their investments. If you have been planning to get into the crypto market then right now is the best time to do so. With prices low, it is the perfect time for new crypto enthusiasts to enter the market and start their crypto journey.