Wu said that Paradigm has announced that it has raised its third $850 million venture capital fund, focusing on early-stage crypto projects. Paradigm was founded in 2018, and co-founder Matt Huang said that his belief in the importance of crypto technology has become stronger over the past six years. Paradigm will continue to focus on early work through its entrepreneur-in-residence and incubation programs, and plans to promote the development of more open source projects in the next few years.