Technology

Michael Wu

Crypto finance pioneer Michael Wu has built a unicorn with Amber Group

Profile


Michael Wu is the founder and CEO of financial services company Amber Group, which offers trading and hedging of complex cryptocurrency products. The company, which pivoted from quantitative trading to crypto in 2017, serves both institutional and individual investors; although it makes most of its money from the former, it still has more than 100,000 individual customers. Amber trades between US$2 billion and US$5 billion a day, and has traded more than US$700 billion in total, employing more than 500 staff at offices across Asia, Europe and North America. The company has raised US$128 million across two funding rounds from the likes of Gobi Partners, Tiger Global Management, Sky9 Capital, Pantera Capital, Blockchain.com and Coinbase, valuing it at more than US$1 billion.

Before establishing the company, Wu worked in finance—as a trader for investment bank Morgan Stanley and as a portfolio manager for private equity firm Arete Capital Partners.

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Michael Wu said in 2021 that Amber has plans to list, probably in the US.

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