“Cryptocurrencies are the future,” commented Matt Huang, co-founder and managing partner of Paradigm, on closing the third investment fund at $850 million. The company, founded by Huang and Fred Ehrsam in 2018, has been discussing launching a new fund for several months, especially amid signs of recovery in the crypto market.

Moreover, Huang believes that if not the creator, then the ideological inspiration for such investments is likely the significant successes of companies like Coinbase, Fireblocks, and Uniswap. As Huang stated, “This can be traced by the dynamics of growth and interest in cryptocurrencies and blockchain.” However, he clarified that this does not mean that only these companies are moving the market, but their contribution to technology development is undeniable.