Paradigm

In 2018, Sequoia Capital alum Matt Huang and Coinbase cofounder Fred Ehrsam raised $750 million to launch a crypto investment firm. The pair have since built one of the largest and most influential VCs in digital assets. As of late 2025, Paradigm boasted nearly $12 billion in assets under management.

Big wins and big misses have defined the investor's track record. Paradigm was a prominent backer of the crypto exchange FTX, which declared bankruptcy in late 2022. Huang testified in the subsequent trial against FTX cofounder Bankman-Fried, and the firm had to write off the nearly $300 million it poured into the startup.

At the same time, Paradigm has made some of the most successful bets in crypto and finance. Those include investments in the crypto infrastructure firm Fireblocks, the analytics company Chainalysis, and the prediction market Kalshi. The VC also has incubated its own technology, including the Stripe-backed blockchain Tempo. Huang and Alana Palmedo are Paradigm's managing partners.