Paradigm Plans to Launch Another Crypto Fund

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Paradigm, a venture capital firm, recently announced the closure of a third fund for investing in early-stage crypto and blockchain projects.

The firm has raised $850 million for this fund, making it one of the largest crypto fund raises in history. This announcement comes after months of discussions following the recovery of the crypto market.

Matt Huang, co-founder and managing partner of Paradigm, stated that the firm has believed in the significance of crypto since its launch in 2018, and this belief has only grown stronger over the past six years.

Notable investments by Paradigm include Coinbase, Fireblocks, Blast, Optimism, Uniswap, MakerDAO, Chainalysis, MoonPay, Gitcoin, and Friend.tech. The firm also invested $278 million in the now-defunct crypto exchange FTX, which it wrote off completely in November 2022.