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Amber Group CEO Michael Wu Says FTX Collapse Triggered His Biggest Career Setback

Michael Wu said the 2022 collapse of FTX (failed crypto exchange) sent Amber Group from a potential $10 billion valuation into a sharp reversal.

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Terms & Concepts
  • FTX: A cryptocurrency exchange that collapsed in 2022, becoming one of the most significant failures in the digital asset industry.
  • Valuation: An estimate of a company’s worth, often used in fundraising and private market investing.
  • Crypto exchange: A platform where users buy, sell, and trade digital assets such as Bitcoin and Ethereum.