Cryptocurrency-focused venture capital firm Paradigm has announced a new $850 million fund. 💰

Matt Huang, co-founder of Paradigm, said that the company's third fund will focus on crypto projects in the earliest stages of development.

Paradigm has already contributed to some of the best projects in the crypto industry, including Unswap and Optimism.

The new fund aims to continue work on such early projects.

According to Huang, the crypto space is developing at a fast pace, and the number of cryptocurrency owners has already reached hundreds of millions.