Crypto VC Revival: Paradigm and Galaxy Digital Spearheading the Movement
Paradigm, a company established by Fred Ehrsam and Matt Huang, is preparing to leverage the increasing institutional interest in the cryptocurrency industry, after a temporary dip in venture capital (VC) investments in the crypto sphere. This trend is indicative of the larger ‘Crypto VC comeback’ narrative, with Paradigm aiming to establish one of the most significant fresh crypto VC funds since last year’s market slump. Despite dealing with criticism for diminishing its dedication to crypto and a legal dispute over its investment in FTX, Paradigm remains steadfast in supporting crypto initiatives, orchestrating a $1 billion investment round in Farcaster. Alongside Paradigm, Mike Novogratz’s Galaxy Digital is also accumulating $100 million for a crypto venture fund, transitioning from solely investing its own funds to collaborating with external investors. The crypto venture capital season is gaining momentum, with Hivemind Capital and Hack VC amassing considerable funds for crypto and NFT enterprises. The venture capital ecosystem forecast looks optimistic, with publicly disclosed crypto investment projects and financing volumes on an upward trajectory.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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