Tag: Paradigm

Ethereum Layer 2 Protocol Blast Secures $20M Investments from Paradigm

The L2 protocol anticipates its Mainnet to go live on February 24 next year, enabling withdrawals, with users able to redeem their Blast Points starting May 24. Blast, an Ethereum layer 2 protocol with yield-bearing assets, announced the completion of its $20 million funding round led by Paradigm, a research-driven technology investment company with a special focus on crypto. Announcing the milestone on Twitter now X, the protocol said Standard Crypto also contributed to the $20 million investment round, which would be used to build a layer 2 network that…

SBF was ‘very resistant’ to investors on FTX board: Paradigm co-founder

boss

Sam Bankman-Fried was “very resistant” to having investors join the board of directors at FTX, claims Matthew Huang, the co-founder and managing partner of crypto investment firm Paradigm. Paradigm and a number of venture capital firms including Sequoia, Temasek and BlackRock were burned by their funding of the now-bankrupt crypto exchange with all facing scrutiny — and subsequently issuing statements — on their investment in FTX. Testifying on the third day of Bankman-Fried’s trial in a New York Federal Court, Huang claimed Bankman-Fried believed having investors on FTX’s board of…

Paradigm accuses SEC of bypassing rules in Binance lawsuit

boss

Paradigm, a crypto venture capital firm, has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in their current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm pointed out that the SEC is attempting to use the concerning accusations in its complaint as a means to alter the law, all without adhering to the established rulemaking process. Paradigm firmly believes that the SEC is exceeding its regulatory boundaries, and we strongly oppose this tactic, they further…

SEC is ‘wrongfully attempting’ to police crypto markets: Paradigm counsel

boss

Crypto investment firm Paradigm’s Special Counsel Rodrigo Seira has become the latest to slam the United States securities regulator, this time for “wrongfully” pursuing crypto exchange Bittrex in an attempt to police secondary crypto markets. In a July 11 Twitter thread, Seira added his thoughts after an amicus brief filing from Paradigm, arguing that the U.S. Securities and Exchange Commission’s case against U.S.-based crypto exchange Bittrex should be “dismissed” as it relies upon an unreasonable use of the Howey test to make its claims. The SEC’s lawsuit against Bittrex is…

Paradigm slams SEC’s ‘incoherent’ attempt to police decentralized exchanges

boss

Crypto venture capital firm Paradigm has slammed the U.S. Securities and Exchange Commission’s attempt to redefine the term “exchange” — which would if accepted, bring decentralized exchanges under its purview.  On June 8, the firm sent a lengthy 14-page letter to the SEC Secretary, Vanessa Countryman, regarding the regulator’s proposed redefinition of the term “exchange” in the 1934 Securities Exchange Act. The SEC plans to revise the 89-year-old legislation to encompass decentralized exchanges (DEXes) and decentralized finance (DeFi) into the definition of “exchange.” Because the term DEX contains the word…