paradigm
Paradigm co-founder feels ‘deep regret’ investing in SBF and FTX
The co-founder of asset management firm Paradigm says they feel “deep regret” for having invested in FTX amid recent revelations involving FTX, Alameda Research, and Sam Bankman-Fried. In a Twitter post on Nov. 15, Matt Huang, co-founder and managing partner of Paradigm said the firm is “shocked” by the revelations surrounding the two companies and their founder, adding: “We feel deep regret for having invested in a founder and company who ultimately did not align with crypto’s values and who have done enormous damage to the ecosystem.” Matt Huang, Managing Partner and Co-Founder of Paradigm Source: Paradigm Paradigm is a crypto and Web3-focused venture capital firm based in San Francisco. In April reports suggested the firm’s assets under management totaled approximately $13.2 billi...
FTX partners with Paradigm for ‘one-click’ futures spread trading
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...
Crypto venture capital firms see surging assets under management
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 ma...
Paradigm Agrees to Sell Music Division to Wasserman
Gores added: “We are huge fans of Casey Wasserman and the company he’s built, and I am very pleased that he and his team will be at the helm of this important business line. It’s both thrilling and bittersweet to reach this agreement, transition to a new era for Paradigm, and initiate a stabilizing solution during a global pandemic that has created an existential crisis for our industry.” The Beverly Hills-based Paradigm’s roster includes Ed Sheeran, Billie Eilish, Coldplay, Kacey Musgraves, Imagine Dragons and many other top-selling artists. The firm, run by chairman Gores, has built up its music division through years of acquiring boutique talent and management companies, including Monterey Peninsula Artists, Little Big Man, Third Coast Artists Agency, AM Only, Windish Agencies and...
