Our Investment in Paradigm
Today, we are thrilled to announce that Dragonfly Capital is leading investment into Paradigm’s strategic financing round. Joining us in the investment are our partners Bybit, OKex, Alameda/FTX, Digital Currency Group and Coinshares into this new round.
Paradigm provides a step-change improvement to how block crypto trades are executed. Paradigm allows anyone to trade anything in massive sizes and clear it anywhere, unbundling price discovery from clearing (traditionally the two functions of an exchange). They’ve built a vibrant community of institutional and international traders through their high-touch service and beautiful UI. Currently, almost all block options trades on Deribit and the CME are traded via Paradigm.
While inspired by traditional financial services companies like Tradeweb and MarketAxess, Paradigm also takes a first-principles approach to building and reimaging crypto capital markets. We believe Paradigm will prove to be one of the most important building blocks in the fast-growing crypto capital market landscape, especially around options.
After spending the last 6 months with Anand, we have been consistently impressed with his tireless focus on product iteration, deep knowledge of trading workflows, and their unwavering dedication to customers. Anand, the CEO, is one of the most unrelenting and focused entrepreneurs we’ve met. We look forward to supporting Anand and the Paradigm team on their journey to becoming one of the largest liquidity platforms in the world.
