Paradigm, a cryptocurrency-focused investment firm created by Coinbase co-founder Fred Ehrsam, announced the biggest crypto venture fund to date this Monday.
With a war chest of $2.5 billion, Paradigm One has topped the $2.2 billion fund that was launched by Silicon Valley's VC giant, Andreessen Horowitz (a16z), in late June.
While the fact that investors are throwing that much money at crypto might prompt fears of a market top, co-founder Fred Ehrsam, a member of the "Coinbase mafia," tweeted that things were just getting started.
Just getting started https://t.co/V8fXb3hCTt— Fred Ehrsam (@FEhrsam) November 15, 2021
In a blog post, Paradigm says that it will continue investing in early-stage startups, claiming that its mission has not changed.