Cryptocurrency investment firm Paradigm is planning to raise $850 million in a recent funding round following the recovery of Bitcoin (BTC) in March 2024. Despite Paradigm's aim to attract $750 million, they were able to secure $2.5 billion on November 15, 2024.
RootData reported that a number of firms, such as Optimism, Blast, Flashbots, and UniSwap, received funding from Paradigm. Co-founded by Matt Huang and Fred Ehrsam in 2018, Paradigm is known for its investments in various projects, including FTX.
Following the sudden demise and bankruptcy of FTX, several venture capital firms, including Paradigm, lost their funds. The founder of FTX was sentenced to 25 years in jail, leading to significant consequences for the crypto industry.
Quarterly Crypto Funding Summary
In the first quarter of 2024, there were 448 funding rounds, totaling $2,605,091,315 in investments. The number of funding rounds increased compared to the previous quarter, with various projects in categories like DeFi, NFTs, and Games receiving funding.
Despite the fluctuations in the crypto market capitalization over the past 48 hours, the market saw a 51% increase in the past three months. The fear and greed index showed a trend towards greed, impacting certain tokens and coins negatively.
With Flare (FLR) leading the recent gains in trading price, other tokens like Bitget Token (BGB) and Internet Computer (ICP) also experienced significant growth in the market. However, Core (CORE) saw the highest price increase in the weekly gainers list.
Disclaimer
The information provided in this article is for informational purposes only and does not serve as financial or investment advice.
