Asian algorithmic trading company Amber Group achieves unicorn status

Amber Group, a Hong Kong-based cryptocurrency trading company, has achieved “unicorn” status. The company managed to raise $100 million in its Series B funding round. With the new influx, the company is now worth a billion dollars, making it a unicorn. Amber Group's strategy makes them market neutral, allowing clients to profit in bullish or bearish markets. Amber Group achieves unicorn status Amber Group, an algorithmic trading company, achieved unicorn status in its latest funding round. Founded almost entirely by former Morgan Stanley traders, the company raised $100 million in a Series B funding round. The round was led by DCM Ventures and Tiger Global Management, with participation from China Renaissance Group, Tiger Brokers, Gobi Partners and Coinbase Global. This influx of funds pushed the company's valuation to a billion dollars. The funds raised will serve to expand Amber Group's business through recruitment in development and compliance. The company also said it wants to expand its business to other jurisdictions. Amber Group's business is simple, but it has a twist. It is a trading company that buys and sells cryptocurrencies to profit from market volatility. This activity also includes money from the company and money from its customers. But Amber Group does it with a twist: It uses algorithmic methods to calculate the timing of its bitcoin and ether investments. This project was born in 2015 when a group of Morgan Stanley traders wanted to find a safer and smarter way to trade assets algorithmically. Michael Wu, CEO of Amber Group, told Fortune: "Both commerce and financial services need to be more technology driven and more automated. Our strategy with Amber is always quantitative. Bear Market Ready Its unique trading systems and strategies reportedly enable Amber Group investments to be profitable in bullish and bearish markets. This is because Amber Groups' algorithms

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