The Paradigm investment company announced the launch of a new venture fund worth $2.5 billion to back next-generation crypto projects.
Announcing our new venture fund https://t.co/F01ts3xwRt
— Paradigm (@paradigm) November 15, 2021
The company described cryptocurrencies as “the most exciting technological frontier.” According to the press release, over the past decade digital assets have come a long way, but they are still used by fewer than 10% of the world’s population.
“The journey is only beginning; the potential of cryptocurrency has never been clearer,” the statement said.
The fund size surpassed media expectations, which in October predicted its size to be between $1.25 billion and $1.5 billion.
In November, the blockchain company Enjin announced the launch of a $100 million fund to create a metaverse with non-fungible tokens.
Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.