Crypto Derivatives Firm Paradigm Raises $35M From Jump Capital, Alameda Ventures, Others
More than 25 investors participated in the round, including Dragonfly Capital, DCG and Vectr Fintech Partners.
Dec 9, 2021 at 1:54 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4IOTSFEFCZEX7NCHVXYRFNH2HM.jpeg)
Dollars (Shutterstock)
Paradigm, a firm that provides liquidity to crypto derivatives traders, raised $35 million in a Series A funding round co-led by Jump Capital and Alameda Ventures.
- The round values the firm at $400 million, Paradigm said in a press release on Thursday.
- Over 25 other investors also participated in the Series A, including Genesis Trading, QCP Capital, Nexo and Optiver US. Genesis is owned by Digital Currency Group, which also owns CoinDesk.
- Previous investors Dragonfly Capital, Digital Currency Group, Vectr Fintech Partners and Mirana Ventures, the venture partner of Bybit and BitDAO, also participated.
- “Institutional infrastructure in crypto capital markets is still nascent and liquidity highly fragmented. Paradigm is disrupting that by providing a single point of access to global liquidity and a unified execution and settlement layer to most institutional traders in the world,” said Saurabh Sharma, a partner at Jump Capital.
- Paradigm is not related to the investment company Paradigm Capital.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/400b855f-163f-4b51-b7c2-b848afd72051.png)
Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.