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According to anonymous sources, Paradigm, one of the leading companies in the cryptocurrency industry, is reportedly in talks to raise a new fund worth $750 million to $850 million. Founded by Coinbase's Fred Ehrsam and former Sequoia Capital partner Matt Huang, the firm is in a prominent position in the crypto venture capital space.
If successful, this fund would be the largest in the industry since the crypto market crash. The peak of crypto venture capital funding was in May 2022, when Andreessen Horowitz raised a staggering $4.5 billion. This was followed by a sharp decline in digital asset prices, from which the sector is still recovering.
The company in question also has significant fundraising efforts in its history. In 2021, it raised a $2.5 billion fund, the largest crypto investment vehicle at the time. More recently, in September, it was claimed that Paradigm was aiming to raise $1 billion in funding. However, the firm refused to comment on current funding talks.
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The past year has been an eventful one for Paradigm. Last summer, the firm came under criticism for its lack of commitment to the crypto industry when it updated its website to focus on artificial intelligence, removing all mention of crypto. The site was restored to its former state a short time later. In October, Ehrsam moved from managing partner to general partner.
Also in October, Huang testified at the trial of FTX co-founder Sam Bankman-Fried, who was sentenced to 25 years in prison last week. Paradigm had invested $278 million in FTX. Huang stated that his firm was unaware of any fraudulent practices at the now-bankrupt crypto exchange, and that Paradigm subsequently reduced its FTX investment to zero.
Paradigm is currently part of a class-action lawsuit filed by FTX investors. Investors claim that Paradigm, along with Sequoia and private equity firm Thoma Bravo, have given FTX “an air of legitimacy” with their investments in the crypto exchange.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/just-in-paradigm-plans-to-raise-a-750-million-for-its-cryptocurrency-fund-the-biggest-since-the-crash-of-2022/" rel="noopener noreferrer nofollow">JUST IN: Paradigm Plans to Raise a $ 750 Million for its Cryptocurrency Fund – The Biggest Since the Crash of 2022</a>

JUST IN: Paradigm Plans to Raise a $ 750 Million for its Cryptocurrency Fund – The Biggest Since the Crash of 2022

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