Paradigm co-founder Matt Huang said he regretted investing in the FTX exchange.
Huang testified that his investment in the bankrupt stock market had dropped to zero.
The Founder of Paradigm Spoke About FTX
Matt Huang said that their investment in FTX is only a small part of their total assets and that they have never traded or held assets on FTX. In addition, he underlined that there is no investment in local tokens such as F October.
In a statement on his Twitter account, Huang said:
”We deeply regret that we invested in a founder and a company that ultimately did not comply with the values of crypto and caused great damage to the ecosystem”
The company’s investment amounted to 290 million dollars.
Although Huang said that some people are suspicious about crypto after the rapid collapse of the stock market, “the problems in FTX are precisely those that decentralized finance can solve through increased transparency and security