Paradigm
Uniswap’s $165 Million Series B Capital Raise One of the Largest by a Crypto Firm in 2022
Uniswap Labs, the firm behind the Uniswap decentralized exchange protocol, announced on Thursday that it raised $165 million in a Series B funding round. According to one report, the capital raise, which sees Uniswap Labs’ valuation rise to $1.66 billion, is the largest by any crypto firm in 2022. Uniswap Completes $165M Capital Raise, Decentralized […]Understanding Art Gobblers: The Mechanics of Justin Roiland’s New NFT Collection Unpacked
Financial Heavyweights Citadel, Charles Schwab, Fidelity Confirm Cryptocurrency Exchange Launch
A number of financial giants including Fidelity Investments, Citadel Securities, and Charles Schwab Corp. announced on Tuesday that the consortium of companies plans to launch a cryptocurrency exchange called EDX Markets. Reports note that firms like Paradigm, Sequoia Capital, and Virtu Financial are also backing the new crypto trading platform. The story was first reported […]FTX partners with Paradigm for ‘one-click’ futures spread trading
The global exchange will provide “guaranteed atomic execution and clearing of both legs” for the futures trades on eight cryptocurrencies.
Digital asset investment firm Paradigm has announced the launch of spreads trading in partnership with crypto exchange FTX.
In a Friday blog post, Paradigm said under the FTX partnership users would be able to utilize “one-click” trading with “no leg risk” for the spread between spot, perpetuals and fixed maturity futures on Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX), ApeCoin (APE), Dogecoin (DOGE), Chainlink (LINK) and Litecoin (LTC). FTX will provide “guaranteed atomic execution and clearing of both legs” for the trades.
According to Paradigm CEO Anand Gomes, the arrangement was aimed at drawing in new crypto investors interested in cash and carry trades — leveraging crypto spot purchases and futures instruments on FTX. Gomes added that the rollout could lead to new product offerings “further down the road.”
FTX has officially partnered with leading institutional liquidity network @tradeparadigm to make it easier and cheaper than ever to trade the spread between spot, perpetuals and futures instruments on $BTC, $ETH, $SOL, $AVAX, $APE, $DOGE, $LINK and $LTC!https://t.co/O7chj4l09C pic.twitter.com/mbqjpo6qCQ
— FTX (@FTX_Official) August 12, 2022
The investment firm said using atomic execution for both legs of the spreads trading was “structurally less risky” than those executed on a traditional exchange, allowing market makers to “quote much tighter prices and in significantly larger sizes.” According to Paradigm, the fees will be 50% less than that when executing two individual outright trades.
In 2019, Paradigm partnered with crypto derivatives exchange Deribit to launch a block trading solution. The firm has also invested in several crypto-related projects, including contributing toward a more than $1 billion investment in Citadel Securities, the market maker arm of hedge fund Citadel, a $12-million round for Synthetix, and a $400 million funding round for crypto exchange FTX.US.
Related: Reddit partners with FTX to enable ETH gas fees for community points
In November, Paradigm launched a $2.5-billion fund to expand its investment into crypto companies and protocols. Paradigm co-founder Fred Ehrsam said at the time the firm was “just getting started.”
David Marcus Launches Bitcoin Payments Startup Lightspark
David Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities of using the layer 2 Lightning Network (LN) as a […]Crypto venture capital firms see surging assets under management
Filings reveal the massive amount of assets that crypto venture funds are managing, Andreessen Horowitz’s (a16z) crypto funds were also disclosed to be worth around $9 billion.
Venture capital (VC) firms focused on Web3 projects and crypto businesses are accumulating billions of dollars worth of assets under management as more capital is injected into the sector.
The assets under management figure for Web3 and crypto investment firm Paradigm has recently been revealed. Filings show that the firm has $13.2 billion in assets, a growth of 343% compared to the $2.98 billion reported in a filing in December 2020.
The filings were reviewed by business journalist Eric Newcomer. Writing for his newsletter, he looked at recent applications with the U.S. Securities and Exchange Commission (SEC) for some of the biggest venture capital firms in the Web3 and crypto sectors.
To be registered as an “investment advisor,” these firms must disclose their regulatory assets under management with the SEC.
The applications also revealed that Andreessen Horowitz's (a16z) crypto-focused funds totaled around $9 billion. Overall, its total assets under management for all investments topped $54.6 billion.
Sequoia Capital and Tiger Global also posted some big numbers, with $85.5 billion and $124.7 billion respectively, Tiger seeing a 58% increase from $79.1 billion in its filings from last year.
The findings come after a recent report that venture capital money is pouring into crypto. In 2021, $25.2 billion worth of venture capital funding went to global blockchain startups, a 713% increase from the $3.1 billion in 2020.
Related: Blockchain.com's value rockets to $14B after new funding round: Reports
Expectations could be greater for 2022. In January, a16z revealed that it is gearing up to raise $4.5 billion for its latest fund focused on cryptocurrencies. Venture capital firms are also keenly looking at Solana’s NFT offerings for further opportunities.
The Solana network offers significantly lower transaction costs than Ethereum at faster speeds, and a few Solana-based gaming and NFT companies are seeing big money from VCs, according to reports.
Fractal, a Solana NFT gaming marketplace, raised $35 million on Friday, April 1st, in a round led by Paradigm with participation from a16z. Magic Eden, a popular Solana NFT market, raised $27 million in a Series A round in mid-March, also led by Paradigm, with other funds coming from Sequoia Capital.
Pro Trader-Focused NFT Marketplace Blur Secures $11 Million in Seed Round Led by Paradigm
On March 28, the non-fungible token (NFT) marketplace Blur announced the company has raised $11 million in a seed round led by Paradigm. The NFT marketplace Blur says the startup is focused on building an institutional-grade NFT market that’s made “for pro traders.” Blur Raises $11 Million to Craft the Startup’s Institutional-Grade Products The NFT […]Optimism Raises $150 Million in Series B Funding Round Led by Paradigm and A16z
Optimism, an L2 (Layer 2) rollup solution for Ethereum, has raised $150 million in its Series B funding round coming from big companies in the venture capital (VC) scene. The funding round was led by A16z and Paradigm, with the former also having invested during the previous funding round. The scaling solution reached a valuation […]