Paradigm

Paradigm is a research-driven investment firm based in San Francisco, specializing in the cryptocurrency sector. Founded in 2018 by Matt Huang and Fred Ehrsam, the company aims to support innovative companies and protocols from their inception, often at the idea stage. Paradigm emphasizes a builder mentality, with many of its team members having experience in developing tools and protocols that play a significant role in the crypto ecosystem. The firm is committed to advancing the frontier of cryptocurrency through both investment and the creation of open-source software. Research is central to Paradigm's approach, as the firm believes that deep understanding fosters innovation and progress. Rather than solely providing financial support, Paradigm actively engages in collaboration, whether it be through producing research papers or offering product and business strategy guidance.

Matt Huang

Managing Partner

Past deals in Trading Platform

Mesh

Series B in 2025
Mesh is a technology company specializing in creating a secure and interconnected ecosystem for cryptocurrency transactions. It enables seamless deposits and payments across over 300 exchanges and wallets, serving as a modern connectivity layer for crypto. This allows various financial services platforms to integrate and interact with multiple currencies and assets. In addition to facilitating crypto transactions, Mesh also supports stock trading and the transfer of crypto between different platforms, thereby enhancing overall financial connectivity for its users. The company's platform authenticates access to banks, brokerages, centralized finance exchanges, or wallets, providing enterprise clients with capabilities such as digital asset transfers, crypto payments, account aggregation, and registered securities trading.

Phantom

Series C in 2025
Phantom is a digital wallet specifically designed for decentralized finance (DeFi) and non-fungible tokens (NFTs). It functions as a multichain wallet, allowing users to manage their cryptocurrency and NFT assets across various blockchain networks, with a primary focus on Solana. The Phantom wallet is available on multiple platforms, including mobile devices and browser extensions, enhancing accessibility for users engaged in digital finance. The wallet leverages secure and transparent digital ledger technology, enabling users to safely store, buy, send, receive, and swap tokens, as well as collect NFTs, all within a user-friendly interface.

Ellipsis Labs

Venture Round in 2024
Ellipsis Labs is focused on developing Phoenix, a decentralized exchange platform built on the Solana blockchain. This platform features a fully on-chain and non-custodial limit order book, which allows users to engage in cryptocurrency trading with the ability to place limit orders. By facilitating atomic settlement of trades, Phoenix aims to enhance the trading experience by enabling users to avoid sudden price fluctuations and execute orders at their desired prices. The company's commitment to a crankless design ensures a more efficient trading process, positioning it as a significant player in the decentralized finance space.

MetaDAO

Initial Coin Offering in 2024
MetaDAO is a technology company that develops a decentralized, autonomous platform for decision markets. This platform facilitates a pure market-based governance system, allowing traders to create and trade in decision markets, where the outcomes are influenced by market mechanisms and active stakeholder participation, rather than traditional governance structures.

Ellipsis Labs

Series A in 2024
Ellipsis Labs is focused on developing Phoenix, a decentralized exchange platform built on the Solana blockchain. This platform features a fully on-chain and non-custodial limit order book, which allows users to engage in cryptocurrency trading with the ability to place limit orders. By facilitating atomic settlement of trades, Phoenix aims to enhance the trading experience by enabling users to avoid sudden price fluctuations and execute orders at their desired prices. The company's commitment to a crankless design ensures a more efficient trading process, positioning it as a significant player in the decentralized finance space.

Dzone Finance

Series A in 2023
Dzone Finance is a cross-chain Dex and Bridge aggregator.

EDX Markets

Series A in 2023
EDX Markets operates as a digital asset marketplace. It caters to the needs of both crypto-native firms and large financial institutions. The company trades in various cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. EDX Markets combines innovative technology with financial services to enable safe and compliant trading of digital assets. It also provides trading resources and a UAT Environment for its users. The company is also known for its focus on hiring crypto talent, as stated by its CEO, Jamil Nazarali.

Uniswap

Series B in 2022
Uniswap Labs is a software company founded in 2018 by Hayden Adams, who created the Uniswap Protocol, a decentralized platform for swapping digital assets. The protocol has facilitated $2.75 trillion in transaction volume since its inception. Uniswap Labs focuses on developing widely used decentralized finance (DeFi) products, including a user-friendly web interface, a self-custody mobile wallet, and an API tailored for professional market participants. The platform empowers liquidity providers and traders by offering a financial marketplace that is open and accessible to all. Utilizing smart contracts, it enables secure and decentralized on-chain conversions of assets, allowing users to trade tokens directly without intermediaries while defining asset prices based on the liquidity staked in the system.

SignalPlus

Seed Round in 2022
SignalPlus is an enterprise technology firm specializing in enhancing accessibility to trading options for digital and cryptocurrency assets. The company offers a fully automated trading system that utilizes an artificial intelligence-powered trading robot to automate market making and risk hedging. This technology is designed to address the infrastructure gaps between centralized finance (CeFi) and decentralized finance (DeFi) option platforms. SignalPlus provides a comprehensive cryptocurrency trading dashboard that includes advanced pricing, analytics, and execution algorithms, as well as multi-vendor and direct market access. This makes it suitable for high-touch trading strategies while avoiding any cost commitments, effectively supporting traders in managing risks associated with their investments.

SignalPlus

Series A in 2022
SignalPlus is an enterprise technology firm specializing in enhancing accessibility to trading options for digital and cryptocurrency assets. The company offers a fully automated trading system that utilizes an artificial intelligence-powered trading robot to automate market making and risk hedging. This technology is designed to address the infrastructure gaps between centralized finance (CeFi) and decentralized finance (DeFi) option platforms. SignalPlus provides a comprehensive cryptocurrency trading dashboard that includes advanced pricing, analytics, and execution algorithms, as well as multi-vendor and direct market access. This makes it suitable for high-touch trading strategies while avoiding any cost commitments, effectively supporting traders in managing risks associated with their investments.

Lightspark

Seed Round in 2022
Lightspark is a company focused on enhancing the capabilities and utility of Bitcoin through the development of a crypto payment platform. This platform aims to provide an enterprise-ready infrastructure for open payments at scale, allowing businesses and developers to accept digital payments while facilitating immediate conversion to fiat currency. By leveraging the lightning network, Lightspark enables users to transform existing financial solutions and create new systems and services, thereby expanding access to digital payment technologies for a broader audience.

Jambo

Series A in 2022
Jambo is a company focused on creating an extensive on-chain mobile network, centered around its flagship product, the JamboPhone, a powerful mobile device designed for the crypto-native market. With a foundation of over 800,000 mobile nodes spanning more than 120 countries, Jambo aims to accelerate decentralization and enhance network effects for various applications, such as validators and peer-to-peer networking. The JamboApp serves as a gateway for millions of users to engage with the on-chain economy, offering innovative earning opportunities, a decentralized application (dApp) store, and a multi-chain wallet. By integrating blockchain technology into its products, Jambo empowers users to participate in gaming, cryptocurrency trading, and decentralized finance, particularly benefiting individuals in emerging markets. Central to Jambo's ecosystem is the Jambo Token, which facilitates rewards, discounts, and other incentives, positioning the company as a key player in the evolving landscape of blockchain technology.

FTX

Series C in 2022
FTX is a cryptocurrency exchange company that specializes in developing a professional trading platform, supporting features such as quarterly and perpetual futures, leveraged tokens, and OTC trading. It aims to cater to both professional trading firms and first-time users, offering an intuitive and robust trading environment. FTX was incubated by Alameda Research, ensuring it had industry order books from its inception. Additionally, FTX Ventures, its investment arm, provides equity and/or token investments to blockchain companies at various stages, supporting founders and maintaining their decision-making flexibility.

Phantom

Series B in 2022
Phantom is a digital wallet specifically designed for decentralized finance (DeFi) and non-fungible tokens (NFTs). It functions as a multichain wallet, allowing users to manage their cryptocurrency and NFT assets across various blockchain networks, with a primary focus on Solana. The Phantom wallet is available on multiple platforms, including mobile devices and browser extensions, enhancing accessibility for users engaged in digital finance. The wallet leverages secure and transparent digital ledger technology, enabling users to safely store, buy, send, receive, and swap tokens, as well as collect NFTs, all within a user-friendly interface.

Rain

Series B in 2022
Rain is a regulated cryptocurrency exchange based in Manama, Bahrain, that aims to facilitate digital transactions in the Middle East. Founded in 2017, the company operates a cryptocurrency trading platform that allows clients to buy, sell, and store digital currencies securely and compliantly. By functioning within a regulatory framework, Rain emphasizes the importance of security and adherence to regulations in the rapidly evolving digital currency landscape.

Citadel Securities

Venture Round in 2022
Citadel Securities is a capital markets firm that utilizes a blend of financial expertise, mathematical modeling, and advanced engineering to facilitate trading and liquidity in the financial markets. The company focuses on providing essential services related to fixed-income investments and equity products, employing sophisticated predictive models and cutting-edge technology to execute trades efficiently. By serving a diverse clientele that includes asset managers, banks, broker-dealers, hedge funds, government agencies, and public pension programs, Citadel Securities aims to reduce transaction costs and address liquidity requirements. Through its innovative approach, the firm plays a significant role in shaping the dynamics of global markets.

MoonPay

Series A in 2021
MoonPay is a financial technology company that specializes in payment infrastructure for cryptocurrency transactions. Its platform allows users to easily convert fiat currencies into cryptocurrencies and non-fungible tokens (NFTs) using various payment methods, including credit and debit cards, local bank transfers, Apple Pay, and Google Pay. Operating on a non-custodial model, MoonPay does not hold customer funds, which provides users with enhanced control over their digital assets. By connecting cryptocurrency exchange platforms with users, MoonPay aims to streamline the process of cryptocurrency purchases, ensuring a seamless experience for clients.

Osmosis Foundation

Initial Coin Offering in 2021
Osmosis Foundation operates a decentralized peer-to-peer blockchain platform that facilitates the creation of liquidity and trading of IBC-enabled tokens. The platform features an advanced automated market maker (AMM) protocol, which represents a significant evolution in how liquidity providers engage with decentralized finance (DeFi). Built using the Cosmos software development kit (SDK), Osmosis allows developers to design, build, and deploy customized AMMs, enhancing the flexibility and functionality of liquidity solutions within the ecosystem. By utilizing open-source software, Osmosis promotes transparency and accessibility in the DeFi space.

CoinSwitch

Series C in 2021
CoinSwitch is a leading cryptocurrency exchange aggregator based in India, designed to simplify the complexities of cryptocurrency trading for everyday users. With over 20 million registered users, CoinSwitch enables individuals to easily invest in a variety of cryptocurrencies through a user-friendly platform. Users can make one-time purchases or set up systematic investment plans, allowing for flexible investment strategies. In addition to trading, CoinSwitch provides educational resources that help users understand the cryptocurrency market and make informed decisions. The platform features the Crypto Rupee Index, which aids users in analyzing market sentiments. Committed to expanding accessibility to cryptocurrency, CoinSwitch aims to establish itself as a comprehensive wealth-tech destination for Indian investors, facilitating a seamless experience for managing all aspects of their crypto transactions.

Euler Labs

Series A in 2021
Euler Labs is a developer of a non-custodial lending protocol built on the Ethereum blockchain, designed to facilitate lending and borrowing of a wide range of crypto assets. The platform operates without the need for trusted third parties, allowing users to earn interest on their crypto holdings or hedge against market volatility in a capital-efficient manner. Euler's innovative approach incorporates reactive interest rates that adjust in real-time based on market conditions, alongside asset-specific collaterals, which provides clients with a risk-minimized opportunity to engage in crypto finance. The company's technology aims to enhance financial accessibility and efficiency for users in the decentralized finance space.

dYdX

Series C in 2021
dYdX is a prominent decentralized exchange that aims to empower traders by providing a secure and efficient trading platform. Founded in 2017 by Antonio Juliano, a former engineer at Coinbase and Uber, dYdX operates on Ethereum using audited smart contracts, which eliminates the need for trust in a central authority during trading. The platform offers a variety of financial products, including perpetual, margin, and spot trading, as well as borrow and lend pools. Users can earn interest on their deposits and engage in margin trading with customizable leverage options. By combining the security and transparency associated with decentralized exchanges with the speed and usability typically found in centralized platforms, dYdX strives to create an open financial system that grants universal access to advanced trading tools.

Bitso

Series C in 2021
Bitso is a cryptocurrency exchange platform founded in 2014 and headquartered in Mexico City, Mexico. The company specializes in facilitating the buying and selling of bitcoin and other cryptocurrencies, providing users with a marketplace where they can trade fractions of various digital assets. Bitso's platform is designed for ease of use, allowing customers to conduct transactions and make payments via mobile devices. By focusing on the fintech and blockchain sectors, Bitso aims to enhance accessibility to cryptocurrency trading for users in Mexico and beyond.

Zora

Seed Round in 2021
Zora is a crypto-driven marketplace that specializes in the buying, selling, and trading of limited-edition non-fungible tokens (NFTs). The company has developed an on-chain social network and protocol that leverages blockchain technology to enhance the secondary market value of digital files, including photos, videos, audio, and music. Zora's platform offers a range of features, such as drop alerts and notifications, which provide artists and businesses with accessible tools to create and sell NFT collections efficiently. This focus on usability and market engagement positions Zora as a key player in the evolving landscape of digital assets.

Opyn

Series A in 2021
Opyn is a decentralized protocol focused on optimizing options trading for users interested in Ethereum and ERC20 assets. The platform allows users to earn premiums or express views on assets by trading options, specifically offering European, cash-settled options that automatically exercise upon expiry. As a pioneer in decentralized finance (DeFi), Opyn initially launched the first live ERC20 options protocol, enabling users to create, buy, and sell options on any ERC20 token. Its innovative offerings include the ability to trade option spreads and combos, enhancing capital efficiency for traders. Opyn v1 continues to operate on the Ethereum network, providing a venue for American, physically settled options while the company expands its range of ERC20 options. Through its commitment to inclusivity, fairness, and transparency, Opyn aims to enhance the trading experience within the decentralized finance ecosystem.

CoinSwitch

Series A in 2021
CoinSwitch is a leading cryptocurrency exchange aggregator based in India, designed to simplify the complexities of cryptocurrency trading for everyday users. With over 20 million registered users, CoinSwitch enables individuals to easily invest in a variety of cryptocurrencies through a user-friendly platform. Users can make one-time purchases or set up systematic investment plans, allowing for flexible investment strategies. In addition to trading, CoinSwitch provides educational resources that help users understand the cryptocurrency market and make informed decisions. The platform features the Crypto Rupee Index, which aids users in analyzing market sentiments. Committed to expanding accessibility to cryptocurrency, CoinSwitch aims to establish itself as a comprehensive wealth-tech destination for Indian investors, facilitating a seamless experience for managing all aspects of their crypto transactions.

Uniswap

Series A in 2020
Uniswap Labs is a software company founded in 2018 by Hayden Adams, who created the Uniswap Protocol, a decentralized platform for swapping digital assets. The protocol has facilitated $2.75 trillion in transaction volume since its inception. Uniswap Labs focuses on developing widely used decentralized finance (DeFi) products, including a user-friendly web interface, a self-custody mobile wallet, and an API tailored for professional market participants. The platform empowers liquidity providers and traders by offering a financial marketplace that is open and accessible to all. Utilizing smart contracts, it enables secure and decentralized on-chain conversions of assets, allowing users to trade tokens directly without intermediaries while defining asset prices based on the liquidity staked in the system.

Matrixport

Venture Round in 2019
Matrixport is a comprehensive financial services platform focused on digital assets, allowing users to invest, trade, and leverage cryptocurrencies. The company provides a blockchain-based trading platform that facilitates the trading, custody, lending, and management of crypto assets. By offering a range of services, Matrixport empowers both individual users and institutional clients to effectively manage their financial resources and navigate the digital currency landscape.

Numerai

Funding Round in 2019
Numerai, LLC is a hedge fund firm founded in 2015 and based in San Francisco, California. It operates a unique investment approach by leveraging a global network of data scientists to develop predictive models for the stock market. The company transforms and regularizes financial data into machine learning challenges, allowing participants to engage in data science tournaments focused on stock market predictions. This innovative platform not only facilitates the creation of sophisticated investment strategies but also promotes a collaborative environment where data scientists can contribute to the firm's investment decisions. Through this model, Numerai aims to enhance investment returns and foster profitable outcomes for its investors.

Tagomi

Venture Round in 2019
Tagomi is a cryptocurrency trading platform that offers clients enhanced execution capabilities to optimize their trading experience. The platform utilizes advanced routing tactics and sophisticated execution algorithms to analyze both real-time and historical data, allowing it to determine the optimal timing and venues for trades. By focusing on maximizing client returns and minimizing trading costs, Tagomi aims to deliver efficient access to priced liquidity and low commissions, thereby enabling clients to retain a greater portion of their profits.

Veil

Seed Round in 2019
Veil, Inc. is a peer-to-peer trading platform that focuses on prediction markets and derivatives, leveraging the Augur and 0x protocols. Founded in 2018 and headquartered in San Francisco, California, the company allows users to engage in betting on various prediction markets while also facilitating the trading of a diverse array of crypto assets. Veil's innovative platform aims to enhance user participation in decentralized markets by providing a seamless and accessible trading experience.

Coinbase Global

Secondary Market in 2019
Coinbase Global, established in 2012, operates a leading cryptocurrency exchange platform in the United States. The company facilitates transactions, buying, selling, and storage of digital currencies such as Bitcoin, Ethereum, and Litecoin for both consumers and merchants. Coinbase offers a range of products including Coinbase.com, a user-friendly platform for bitcoin transactions, a global digital asset exchange, merchant tools, and custodial services. The company, headquartered in San Francisco, California, aims to provide a safe and regulation-compliant entry point into the cryptocurrency economy.

Namebase

Seed Round in 2018
Namebase is an open-bidding domain marketplace that facilitates the buying, selling, and management of top-level domains and HNS coins. The platform simplifies the use of next-generation domain names, enabling users to host websites and receive cryptocurrency through their domain names. By providing a straightforward marketplace, Namebase supports users in navigating the evolving landscape of digital assets and domain ownership.
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