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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.

Paradigm Co-founder Confirms Investment In FTX Drops To Zero 2

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.

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Harold

CoinCu News

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.