Wed, April 03, 2024 at 18:48

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    Joy

    • Hey Annie!

    • I've got some fresh news for you.

    • Paradigm, a crypto venture capital firm co-founded by Fred Ehrsam of Coinbase, is reportedly looking to raise between $750 million and $850 million for a new fund.

    • Can you believe that?๐Ÿ˜ฒ

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  • Annie

    • Wow, that's a lot of money!๐Ÿ˜ฎ But why are they raising such a huge amount?

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    Joy

    • Well, if they manage to raise this sum, it would make them one of the industry's largest VC firms since the crash in 2022.

    • They're really aiming for the stars here!๐Ÿš€

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  • Annie

    • I see...

    • But didn't Paradigm raise a significant amount before?

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  • ADward

    • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... ๐Ÿ˜…

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    Joy

    • Absolutely right!

    • Back in 2021, Paradigm raised a whopping $2.5 billion, making it the largest-ever crypto investment firm at the time.

    • They're no strangers to big numbers!๐Ÿ’ช

  • Annie

    • Wow, that's impressive!

    • But I heard something about them removing all mentions of digital assets from their website?๐Ÿค”

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    Joy

    • Yes, you're right!

    • Last year, they replaced all mentions of digital assets on their website with artificial intelligence (AI).

    • But guess what?

    • The changes were undone just days later.

    • It was like a magic trick!๐ŸŽฉโœจ

  • Annie

    • That's quite strange...๐Ÿ˜• Also, didn't Paradigm have some history with the bankrupt crypto exchange platform FTX?

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    Joy

    • Indeed, they did!

    • Paradigm had invested $278 million into FTX.

    • And Matt Huang, the other co-founder of Paradigm, even testified in former FTX CEO Sam Bankman-Fried's trial.

    • It's like a soap opera, isn't it?๐ŸŽญ

  • Annie

    • It sure sounds like it!๐Ÿ˜… But aren't they also part of a class-action lawsuit filed by FTX investors?

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    Joy

    • Yes, they are!

    • The lawsuit claims that Paradigm and two other firms, including Sequoia, gave FTX a fake aura of legitimacy by investing millions into it.

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    • It's a real plot twist!๐ŸŒ€

  • Annie

    • That's quite a situation...๐Ÿ˜ But didn't Paradigm value a decentralized social media firm at nearly $1 billion last week?

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    Joy

    • Yes, they did!

    • They valued Merkle Manufactory, the lead developer behind the Farcaster network, at nearly $1 billion.

    • They're really making moves in the industry!๐Ÿ’ƒ

  • Annie

    • Wow, they're really active!

    • So Joy, is this news good or bad for the market?

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  • ์ธ๋„ค์ผ

    Joy

    • Well Annie, it's generally good news.

    • Despite the controversies surrounding them, Paradigm's aggressive fundraising and investment activities show confidence in the crypto industry.

    • It could potentially attract more investors and boost the market.

    • So yeah, I'd say it's a positive sign!๐Ÿ‘

    • To sum up, this article is considered a ๐Ÿ˜Bullish for investors!!