Paradigm’s co-founder – Matt Huang – said the company “has never been more dedicated to crypto.” The venture capital firm has been involved in the industry for years by making substantial investments and leading numerous fundraisers. ’Excited About Crypto’ Huang assured in a new post on Twitter that Paradigm remains committed to the cryptocurrency sector. The VC giant will continue “to invest across all stages, publish original research, help portfolio companies develop mechanisms, ship open source projects, advocate for good policy, and more.” He also said that Paradigm is interested in the advancement of artificial intelligence (AI). ”We’re also a group of curious nerds, and the developments in AI are too interesting to ignore.” The exec opposed the thesis that crypto
Topics:
Dimitar Dzhondzhorov considers the following as important: AA News, Artificial Intelligence (AI), paradigm
This could be interesting, too:
Andrew Throuvalas writes The Bitcoin Bear Market May Have Already Started, Signal Shows
Chayanika Deka writes Australia Gears Up for Bitcoin ETF Wave After US, Hong Kong Approvals
Andrew Throuvalas writes How Lazarus Group Cashed Out 0 Million Of Stolen Crypto In Three Years: ZachXBT
Andrew Throuvalas writes EigenLayer Token Airdrop Plan Will Allocate 15% Of Supply To Stakers
Paradigm’s co-founder – Matt Huang – said the company “has never been more dedicated to crypto.”
The venture capital firm has been involved in the industry for years by making substantial investments and leading numerous fundraisers.
’Excited About Crypto’
Huang assured in a new post on Twitter that Paradigm remains committed to the cryptocurrency sector. The VC giant will continue “to invest across all stages, publish original research, help portfolio companies develop mechanisms, ship open source projects, advocate for good policy, and more.” He also said that Paradigm is interested in the advancement of artificial intelligence (AI).
”We’re also a group of curious nerds, and the developments in AI are too interesting to ignore.”
The exec opposed the thesis that crypto vs. AI is a zero-sum competition. The latter is a popular term in finance, describing a business deal where one person’s gain is another one’s loss.
”It seems trendy to frame crypto vs. AI as a zero-sum competition. But we don’t buy it. Both are interesting and will have plenty of overlap. We’re excited to continue exploring,” he concluded.
Paradigm’s Crypto Efforts
One of Paradigm’s first major interactions with the sector occurred in 2019 when it invested as much as $1 million in Uniswap. It was also among the financial backers of the latter’s $165 million fundraiser in 2022.
The VC firm made the headlines during the bull market of 2021 when it announced a whopping $2.5 billion fund to further invest in the digital asset industry.
Paradigm also had a hand in the launch of the new cryptocurrency exchange EDX Markets. It put its name in the list of prominent companies that financially supported the marketplace, such as Fidelity Digital Assets, Citadel Securities, Sequoia Capital, Charles Schwab, and Virtu Financial.
Alongside its successful efforts, Paradigm was caught up in the FTX domino effect due to its previous engagement with the now-bankrupt exchange.
It lost over $270 million following the demise. Co-Founder Huang said he feels “shocked” by the event, arguing it will prompt firms and individuals to investigate more before distributing funds to projects.
Several months later, Paradigm, Sequoia Capital, Thoma Bravo, and other finance giants with exposure to FTX were accused of popularizing the trading venue in a marketing campaign in 2021.