Prominent cryptocurrency platform Paradigm is apparently broadening its financing emphasis to include a wider spectrum of emerging technologies beyond cryptocurrency and blockchain.
Reportsย by the subtle adjustments Paradigm has made to its website, it couldย be seeingย as including artificial intelligence (AI) in its financing basket.
Paradigm Shifts Focus
The community quickly noticed that Paradigm had altered the websiteโs description. The archived version of the page mentions Paradigm as an financing company actively supporting disruptive crypto/ Webย 3.0 corporations and protocols. It touches upon its financial backing for these enterprises in the range of $1 Million to over $100 million.
Inย addition, Paradigm previouslyย statedย that it expects cryptocurrency to be a game-changing technology for the ensuing decades. It compared cryptocurrency to the internet of the โ90s. The company now describes itself as a โresearch-driven technology financing firmโ focusing on supporting numerous enterprises and protocols.
Artificialย Intelligenceย (AI) Consumes FinTech Market
The change comes at a time when artificial intelligence (AI) is likewise profoundly impacting the digitalย currency business. With the cryptocurrency industry facing issues following the FTXย Tradingย Ltd collapse, launches like ChatGPT are emerging as a promising technology trend.
News reports had resurfaced after the bankruptcy that previous FTXย Tradingย Ltd boss Sam Bankman-Fried had invested $20 Million in a deal financialย resources fund managed by Paradigm. The fund wasย known Paradigm 1 alsoย reportedlyย invested in FTXย Tradingย Ltd and FTXย Tradingย Ltd Unitedย States exchanges.
Despiteย theย factย that the financing itself was not under investigation, the industry is displaying a change in attitude. According toย CNBC, JPMorgan Chase is creating a software program to aid financial investing comparable to ChatGPT.
CoinSharesย reportsย $232 Million in withdrawals over the course of 5 weeks as the cryptocurrency marketโs slump continuesย after a short recovery. Accordingย toย CoinGecko data atย theย timeย ofย publication, the total marketย capitalization of all digitalย currencies is $1.16 trillion. This is a 62 percent fall from the peak of $3.04 trillion made in 2021.
Nonetheless, recent mediaย reportsย likewise emphasized theย growthย of digitalย currencies with an Artificialย Intelligenceย (AI) theme owingย to Nvidiaโs increasedย demand forย AI-related chips. Reportsย by CNBC, blockchain-based Artificialย Intelligenceย (AI) projects that intendย to transform numerous industries have witnessed progress.
The paper likewise mentions that specialists believe the marriage of blockchainย tech and Artificialย Intelligenceย (AI) technology can benefit the sector.ย BeInCryptoย recently informed that VC interest in Artificialย Intelligenceย (AI) is anticipated to remain high in 2023,ย indicatingย that more Artificialย Intelligenceย (AI) enterprises will probably be able to raise money.
