“We love the team and think the concept of AI characters as collectibles is ingenious. We’re excited to see how crypto and game mechanics can help drive forward innovation and reward researchers in artificial intelligence,” said Dan Robinson, head of research at Paradigm, in a statement to CoinDesk. Source
The Osmosis Foundation has closed a $21 million token sale from its treasury to help expand the Osmosis automated market maker (AMM) protocol. Paradigm led the foundation’s first fundraising with participation from Robot Ventures, Nascent, Ethereal, Figment and Do Kwon, Terraform Labs’ CEO. Source
The fundraising round of Synthetix is the first time when the project directly governed by a DAO raises funds. Investing in Synthetix, Coinbase Ventures, Paradigm, and IOSG are bringing something valuable to the project. One of the largest token trading platforms Synthetix has raised as much as $12 million from Coinbase Ventures, Paradigm, and IOSG. According to the company, it will use the funds to provide liquidity as SNX collateral through the purchase of SNX tokens that will “participate in its rapidly evolving community governance system”. Paradigm investment partner Arjun…
The Synthetix DAO has added some new, perhaps surprising voices to its governance. Today the synthetic asset protocol announced a $12 million dollar fundraise led by venture capital firms Paradigm, Coinbase Ventures, and IOSG. The funds purchased SNX tokens directly from the DAO treasury, and will be “providing liquidity, engaging in the Synthetix governance process and helping to bring institutional grade participation into the ecosystem,” the announcement reads. “We’re excited about supporting the synthetixDAO as it builds the leading synthetic asset platform,” said Paradigm investment partner Arjun Balaji. “Synthetix has…
It’s hard to do justice to the symbolism and significance of the Reddit-Robinhood-GameStop drama of this past week. That’s not to say it hasn’t been overblown in some quarters. I’ve heard it compared to the Capitol riots – no, that was sedition, this is rebellion, very different. I’ve seen calls for the regulators to step in and shut down retail trading platforms, even though it’s not clear a crime has been committed. And I’ve read takes painting the leaders of this charge as “misfits.” That condescension itself is part of…
Newsweek, one of the largest American weekly news magazines, has taken a positive spin on Bitcoin (BTC) in a recent article that explores whether the digital asset can become the new gold standard. The article, which appeared on Wednesday, dissects the digital gold narrative using JPMorgan Chase’s latest model showing a potential BTC price of $146,000. Although the article presents little new information for crypto enthusiasts who have been charting Bitcoin’s meteoric rise, it provides more validation that the mainstream narrative surrounding cryptocurrency has changed. “All that glitters is not…
Less than two weeks after the price and trade volume of Dogecoin (DOGE) exploded following a get-rich-quick TikTok challenge that went viral, the meme coin has been making headlines again. This time, Elon Musk’s humorous tweet briefly reversed the downward trend that the asset had entered since the TikTok boost began to wear off. While the latest development might bolster the impression that Dogecoin only thrives on fleeting, whimsical cycles of the internet’s attention, it should not obscure the potentially bigger lessons of its earlier user-powered surge. Meme factory meets…
A researcher from the crypto asset investment firm, Paradigm, has co-authored a whitepaper for a new decentralized finance, or DeFi, lending protocol boasting fixed-interest rates. The whitepaper for Yield protocol was written by Paradigm’s Dan Robinson and Allan Niemberg — who announced the project on May 8. Niemberg also announced that Yield Protocol has received seed investment from Paradigm, which will be designated toward building the initial version of the product. New DeFi protocol promises fixed-rate lending The Ethereum (ETH)-based protocol purports to introduce “fixed-term, fixed-rate lending and interest-rate markets…
Amber Group, a Hong Kong-based startup offering a range of cryptocurrency finance services, has raised $28 million in a Series A round. Leading the investment are Paradigm and Pantera Capital, with Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital also participating. Existing investor Dragonfly Capital was also on board. Announcing the news on Friday, Amber said the investment funds will be used to expand its operations to meet client demand and add new features to its platform. “While the industry has come a long way, there is still plenty of…
Venture funds Dragonfly Capital and Paradigm have acquired $27.5 million worth of MKR tokens and plan to take part in the Maker Protocol’s governance system. Announced Thursday by the Maker Foundation, the $27.5 million raised will fund the foundation’s efforts to promote dai adoption in China and the broader Asia region. It’s expected Dragonfly and Paradigm, who already have a strong presence in the region, will advise on the expansion. “Dai continues to be the stablecoin of choice in all global markets for its decentralization and overall stability,” said Rune Christensen,…