Paradigm: “We Should Not Have Invested in FTX”

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According to Matt Huang, Paradigm’s co-founder and managing partner, the company “deeply regrets” its investment in cryptocurrency exchange FTX.

He has said:

“We are shocked by the revelations about FTX, Alameda and Sam Bankman-Fried. The facts are still emerging and there are many lessons to be learned. We deeply regret investing in a founder and company that ultimately did not align with crypto values ​​and caused massive damage to the ecosystem.”

According to him, investments in the platform were “a small part of the total assets” of Paradigm and are now “written down to zero.”

He has said:

“We have never traded on FTX and have no assets on the exchange. We have never invested in related tokens such as FTT, SRM, MAPS or OXY.”

He has added the collapse of the company has led some to question the value of cryptocurrencies. However, the co-founder of Paradigm sees the problem in the Bankman-Fried exchange itself.

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