Paradigm Partner Matt Huang, in an interview with The Information, stated that Paradigm will not abandon its investments in the cryptocurrency space and plans to raise a $1 billion fund by the end of the year or early next year.
Earlier in May, it was reported by insiders that Paradigm was expanding its focus beyond cryptocurrency to include “cutting-edge” technologies such as artificial intelligence (AI). According to their official website, the company removed references to cryptocurrency/Web3 from its homepage earlier that month and now identifies itself as a “research-driven technology investment firm.” This suggests that the company is repositioning itself to address some of the challenges in the cryptocurrency space and the uncertainty surrounding U.S. regulation.