Paradigm's Investment in FTX Written Down to Zero, Says Co-founder

Matt Huang, co-founder of Paradigm, confirmed on Twitter that its investment in FTX has been written down to zero, and said the company feels "regret" for investing in FTX.

"We feel deep regret for having invested in a founder and company who ultimately did not align with crypto's values and who have done enormous damage to the ecosystem." Matt Huang said, "Paradigm's equity investment in FTX constituted a small part of our total assets and has now been written down to $0. We never traded on FTX and did not have any assets on the exchange. We have never been investors in related tokens such as $FTT, $SRM, $MAPS, or $OXY."