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 Crypto VC firm Paradigm communications chief Jim Prosser to step down next month

Jim Prosser, head of communications at crypto venture capital firm Paradigm, said early this morning via Twitter that he would be leaving the company after working there for about a year. “Personal news,” said Prosser’s post, “I’m leaving @paradigm later next month. The past year has been an incredible learning experience alongside the smartest team in all of crypto investing, but I want to take a pause after a decade of demanding roles.” He previously worked as a communications executive …

LootRush raises $12 million to make blockchain games easier to play

LootRush, a platform that aims to improve user access to blockchain games, has raised $12 million in seed funding. The round was led by crypto VC firm Paradigm, with participation from Andreessen Horowitz. Other backers include Y Combinator, Brex founders, and angel investors like the founders of Axie Infinity, Plaid, Wildlife Studios, Dapper Labs, The Chainsmokers, and Vivi Nevo. LootRush is trying to address three problems that game developers face when trying to get games to reach mass adoption, according …

Entertainment company Mad Realities raises $6 million to create decentralized media

Mad Realities, a new media company, raised a $6 million seed round to become a decentralized entertainment platform that lets viewers own and co-create TV shows based on the non-fungible tokens (NFTs) they hold. The seed round was led by Paradigm, with participation from funds Maveron, Long Journey, and Paris Hilton’s 11:11 Media. Individual investors included Bumble chief brand officer Selby Drummond, co-founders of crypto social club Friends with Benefits Trevor McFedries and Alex Zhang, Syndicate co-founder Will Papper, and …

Twitch co-founder’s NFT startup nets $35 million in seed funding

Fractal, the gaming-focused non-fungible token (NFT) platform founded by Twitch co-founder Justin Kan, has raised $35 million. Paradigm and Multicoin Capital led the seed round, with participation from Andreessen Horowitz, Solana Labs, Animoca and Coinbase among others. Paradigm’s Matt Huang will also join the company’s board. The platform launched to the public at the close of last year. The platform enables game companies to mint and drop gaming NFTs for fans. It also provides a secondary market for players to …

Crypto VC Paradigm hires anon developer and high school student as research engineer

Anonymous developer Transmissions has joined crypto derivatives platform Paradigm. He tweeted the news that they had joined as a research engineer today. Transmissions will continue to contribute to the ecosystem, though he’ll also dedicate time to working with Paradigm’s portfolio companies. “My primary focus will be on contributing to the thriving open-source crypto ecosystem, continuing to build out the tooling & primitives that will power the future of web3, including Solmate,” he said in an announcement post.  Transmissions previously worked …

Rick and Morty co-creator collaborates with Paradigm on NFT research project

Justin Roiland, co-creator of the Rick and Morty animated series, is collaborating with two researchers from crypto investment firm Paradigm on a new mechanism for non-fungible token (NFT) sales. According to Paradigm’s Dave White, the new concept would allow a project to more seamlessly sell large quantities of NFTs over a long period of time at stable prices, depending on demand in the market.  “When NFTs are being sold too quickly relative to the target rate, we want to be …

Citadel Securities raises $1.15 billion from Sequoia Capital and Paradigm

Stock trading giant Citadel Securities announced Tuesday that it has raised $1.15 billion in a funding round backed by Sequoia Capital and crypto VC firm Paradigm. This is Citadel Securities’ first-ever external funding round. Sequoia invested in the company through its three funds — Sequoia Heritage, Sequoia Capital Global Equities, and the Global Growth Fund. As part of the deal, Sequoia Capital partner Alfred Lin, will also join Citadel Securities’ board of directors. Citadel Securities and Citadel, a hedge fund, …

Crypto derivatives platform Paradigm nabs $400 million valuation in funding round

Paradigm — a player in the crypto derivatives market — is the latest digital asset trading firm to tap into the wave of capital pouring into the market. On Thursday, the firm announced the close of a funding round that values it at $400 million. Launched in 2019, Paradigm provides a platform for dealers and market makers to execute large trades in options and futures to settle across a wide-range of venues. As per Thursday’s announcement, the firm has raised …