VC Firm Paradigm Remains Interested in Crypto and AI

Paradigm co-founder Matt Huang said the company has “never been more dedicated to cryptocurrency.”

The venture capital firm has been involved in the industry for years by making significant investments and leading numerous fundraisers.

“Excited about coding”

Huang Certain In a new Twitter post, 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 bunch of nosy nerds, and developments in artificial intelligence are just too exciting to ignore.”

The exec has opposed the thesis that encryption vs. AI is a zero-sum competition. The latter is a common term in finance, describing a business transaction in which one person’s gain is another person’s loss.

It seems fashionable to frame cryptocurrency versus artificial intelligence as a zero-sum competition. But we don’t buy it. Both are interesting and will have a lot of overlap. “We’re excited to continue exploring,” he concluded.

coding efforts in the form

One of Paradigm’s first major interactions with the sector occurred in 2019 when it invested up to $1 million in Uniswap. She was also among the latter’s financial backers $165 million fundraiser in 2022.

The venture capital firm made headlines during the 2021 bull market when it announced a massive $2.5 billion fund to raise investment in the digital asset industry.

Paradigm also had a hand in launching the new cryptocurrency exchange EDX Markets. It put its name in the list of prominent companies that support the market financially, such as Fidelity Digital Assets, Citadel Securities, Sequoia Capital, Charles Schwab, and Virtu Financial.

Alongside his successful efforts, Paradigm got caught up in the FTX domino effect due to his previous involvement with the now bankrupt exchange.

I lost more than $270 million after its demise. Founding partner Huang He said He feels “shocked” by the event, arguing that it will prompt companies and individuals to investigate more before distributing money to projects.

Several months later, Paradigm, Sequoia Capital, Thoma Bravo, and other finance giants who were exposed to FTX were accused of generalizing the trading venue in a marketing campaign in 2021.