Paradigm launches fund on $2.5 billion for investments in cryptocurrency companies – Bits Media

Venture capital firm Paradigm launches fund to invest in cryptocurrency companies and decentralized finance protocols. The volume of the fund is a record $2.5 billion.

In an article on the company's blog, Paradigm co-founder Matt Huang (Matt Huang) and Fred Ehrsam (Fred Ehrsam) emphasize, what the fund's goal will differ little from Paradigm's overall goal. Funds will be invested in cryptocurrency firms and new generation protocols.

“The new fund and its size show, that the cryptocurrency industry remains at the cutting edge of technology", – the article says.

According to Paradigm executives, although the industry has come a long way over the past ten years, still less 10% The global population uses digital assets. Decentralized financial systems contain more $100 billion, however, this is only a small fraction of assets in traditional financial systems.

Web3 apps attract tens of millions of users, but this is a small number compared to the billions of Web2 users. Everything is just beginning and now the potential of cryptocurrencies is obvious to everyone, the co-founders of the venture capital firm concluded.

Recall, that at the end of September Paradigm became the leader of the next round of financing of the mining company Genesis Digital Assets.