Paradigm, a cryptocurrency venture capital company, is trying to raise between $750 million and $850 million for its new fund, taking advantage of the recent spike in cryptocurrency markets.
This would be the most sum raised by the cryptocurrencycurrency fund since the bear market began in mid-2022, topping Andreessen Horowitz’s $4.5 billion.
While Paradigm has been supportive of Bitcoin in recent years, it has also come under fire for a perceived lack of dedication to the company.
However, the organization was critical of its Managing Partner’s position after Ehrsam resigned in October 2023, and Huang testified in November during the court trial of FTX founder Sam Bankman-Fried.
Furthermore, the retail brokerage has written off its entire $278 million FTX stock, which was acquired after the exchange’s bankruptcy.
This latest funding comes after Paradigm learned in September 2023 that the business was attempting to raise $1 billion. The year 2021 was a fantastic one for the corporation, as it managed to raise an incredible 2.5 billion dollars in capital.
