Matt Huang, a co-founder of Paradigm, claimed that the venture capital firm wrote down zero its investment in the defunct FTX exchange.

The executive added that the company never traded or held assets on FTX and that its investment represented a relatively small portion of its overall assets. Furthermore, it never made investments in exchange-related tokens like FTT.

$290 million was invested by Paradigm in a collection of businesses run by former FTX CEO Sam Bankman-Fried.

Although the swift demise of the exchange has caused some people to question the value of cryptocurrencies, according to Huang, the problems at FTX are precisely the kinds of problems that decentralized finance can address through greater transparency and security.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Website: coincu.com

Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Paradigm Co-founder Confirms Investment In FTX Drops To Zero

Matt Huang, a co-founder of Paradigm, claimed that the venture capital firm wrote down zero its investment in the defunct FTX exchange.

The executive added that the company never traded or held assets on FTX and that its investment represented a relatively small portion of its overall assets. Furthermore, it never made investments in exchange-related tokens like FTT.

Paradigm’s equity investment in FTX constituted a small part of our total assets and has now been written down to $0. We never traded on FTX and did not have any assets on the exchange. We have never been investors in related tokens such as FTT, SRM, MAPS, or OXY.

— Matt Huang (@matthuang) November 15, 2022

$290 million was invested by Paradigm in a collection of businesses run by former FTX CEO Sam Bankman-Fried.

Although the swift demise of the exchange has caused some people to question the value of cryptocurrencies, according to Huang, the problems at FTX are precisely the kinds of problems that decentralized finance can address through greater transparency and security.

The blow-up of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance can solve through increased transparency and security. Crises such as this one help to clarify the true merits of what we’re all building towards.

— Matt Huang (@matthuang) November 15, 2022

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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