CFO and General Counsel to Leave Crypto Venture Capital Firm Paradigm
The Chief Financial Officer (CFO) and General Counsel at crypto venture capital firm Paradigm are both set to leave the company this month. Nathan Apsel and Reena Jashnani-Slusarz, who have been with the company for over two years, will be departing by mid-September. The firm has seen significant growth during their tenure, doubling in size and launching its first venture fund. The departure of Apsel and Jashnani-Slusarz was announced in an internal email, where COO Alana Palmedo expressed gratitude for their contributions. The legal team will continue under the leadership of Chief Legal Officer Katie Biber, and Paradigm is expected to announce a new CFO in the coming months.
Key Points:
- CFO Nathan Apsel and General Counsel Reena Jashnani-Slusarz are leaving Paradigm after over two years of service.
- Paradigm has experienced substantial growth, doubling in size and launching its first venture fund.
- Chief Legal Officer Katie Biber will oversee the legal department following the departure of Jashnani-Slusarz.
- Paradigm plans to announce a new CFO in the future, indicating a commitment to continued growth.
- The firm recently challenged the SEC’s authority to regulate secondary markets for crypto assets.
Paradigm Challenges SEC’s Authority in Crypto Crackdown
Last month, Paradigm filed an amicus brief challenging the US Securities and Exchange Commission’s (SEC) attempt to regulate secondary markets for crypto assets. The company criticized SEC Chair Gary Gensler for his inconsistent stance on regulating these markets, citing his previous admission that the agency lacked the authority to do so. Paradigm argues that the SEC’s claims against cryptocurrency exchanges like Bittrex are fundamentally different from its previous cases against token sellers. The firm contends that even if a cryptocurrency asset was initially sold in an ICO, the SEC has no legal basis to argue that the asset itself constitutes an investment contract.
Key Points:
- Paradigm challenges the SEC’s attempt to regulate secondary markets for crypto assets.
- The company filed an amicus brief in support of cryptocurrency exchange Bittrex.
- Paradigm criticizes SEC Chair Gary Gensler for his inconsistent stance on regulating these markets.
- The firm argues that the SEC lacks the legal authority to impose retroactive penalties against non-compliant companies.
- Paradigm contends that the SEC cannot classify cryptocurrency assets as investment contracts.
Hot Take: Paradigm Stands Up Against SEC’s Overreach
Paradigm’s CFO and General Counsel departing the company may signal a new phase of growth and expansion for the venture capital firm. The announcement of a new CFO in the near future suggests that the company is committed to maintaining its growth trajectory without significant disruptions. Additionally, Paradigm’s challenge to the SEC’s authority in regulating secondary markets for crypto assets demonstrates their commitment to defending the industry against overreach. By arguing against the SEC’s inconsistent stance and questioning the legal basis for their claims, Paradigm is taking a stand for the crypto community and the importance of regulatory clarity.
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