$850 million for young crypto projects

Venture capitalist Paradigm has launched an $850 million fund to finance crypto projects. The money will be used to fund "early stage crypto projects" according to a statement.

"It is more important than ever to accelerate a positive future for cryptocurrencies, not only as investors but also as co-creators," the company said. The company invests broadly in the crypto market. This includes projects such as Uniswap, Coinbase, Optimism, MakerDAO and FTX. It is now Paradigm's third fund. In November 2021, the venture capitalist launched a fund totaling $2.5 billion.