Venture capital firm Paradigm is launching a fund for investments in cryptocurrency companies and decentralized finance protocols. The volume of the fund is a record $ 2.5 billion.
In a blog post, Paradigm co-founders Matt Huang and Fred Ehrsam emphasize that the fund’s purpose will be little different from Paradigm’s overall goal. The funds will be invested in cryptocurrency firms and next-generation protocols.
“The new fund and its size show that the cryptocurrency industry remains at the cutting edge of technology,” the article says.
While the industry has come a long way in the past decade, less than 10% of the world’s population still uses digital assets, according to Paradigm executives. Decentralized financial systems contain more than $ 100 billion, but this is only a small fraction of the assets in traditional financial systems.
Web3 applications 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 funding for the mining company Genesis Digital Assets.
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