Amber Group, which was established in 2018, reported that it was able to raise more than $ 100 million in a Series B funding round led by China Renaissance. Other participants include DCM Ventures, Tiger Global, Gobi Partners, Coinbase Global and Pantera Capital.

This followed last month's financing of Sequoia Capital and Tiger Global to Babel Finance, which amassed $ 40 million.

Meanwhile, Matrixport, which was founded by Bitmain founder Jihan Wu, is also looking for new investments.

Amber trades Bitcoin and Ether cryptocurrencies through the use of not only client investments, but also personal capital. The company manages about $ 1.5 billion, but this year it expects revenue to show a 10-fold increase and reach $ 500 million.

Its founders are Michael Wu, Tiantian Kullander, Wayne Ho, Tony He and Luke Lee. All of them were just 20 years old back then, but were able to launch a project to organize algorithmic trading in Chinese stocks and index futures. After that, they decided to completely switch to cryptocurrency.

Current Amber CEO Michael Wu said trading and financial services must become the most technologically advanced and automated, so the strategy Amber uses is always quantitative.

CFO Tiantian Kullander supported this and said: "Amber has been profitable even from the first day of its existence. Now, its net profit is over 60%." He disclosed that the main reason is Amber's market-neutral strategy of trading on volatility, rather than on the growth or decline in the value of Bitcoin.

Just recently, Bitcoin lost more than 40% in value, dropping from an all-time high of $ 64,870 in April, after Chinese officials launched bans on crypto trading and mining.

Back in 2019, Amber was able to obtain more than $ 28 million, and was able to raise about $ 100 million from Dragonfly Capital and Coinbase.