Popular cryptocurrency venture capital firm, Paradigm, has announced a new $2.5 billion fund for cryptocurrency companies and protocols. The fund will work alongside its existing flagship fund.

A new decentralized autonomous organization (DAO) called ConstitutionDAO has been launched to preserve the U.S. Constitution. The organization is planning to pool capital in an Ethereum smart contract to purchase a first-edition printed copy of the document.

Institutional interest in the second-largest cryptocurrency by market capitalization, Ethereum, has been growing. Filings with the U.S. Securities and Exchange Commission show that holdings in Grayscale’s Ethereum trust, ETHE, are up 19% in the third quarter of the year.

Sponsored: You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit.

Top stories in the Crypto Roundup today:

• Paradigm Launches Crypto’s Largest VC Fund With $2.5 Billion
• DAO Launched to Buy Copy of U.S. Constitution
• Institutional Ethereum Holdings Rose in Q3
• The Biggest Liquidations on Aave
• Sponsored: Check Out The Newest Liquidity Mining Pool on Curve Finance

Paradigm Launches Crypto’s Largest VC Fund With $2.5 Billion

Popular cryptocurrency venture capital firm, Paradigm, has announced a new $2.5 billion fund for cryptocurrency companies and protocols. The fund will work alongside its existing flagship fund.

In a blog post Paradigm co-founders Matt Huang and Fred Ehrsam wrote that the new fund and its size are “reflective of crypto being the most exciting frontier in technology,” and added:

"Web3 applications have grown to reach tens of millions of users, yet are still a far cry from the billions of Web2 users. The journey is just beginning, and the potential of crypto has never been more clear."

The fund has reportedly been in the works since October when an investment deck revealed Paradigm was looking to raise $1.5 billion. Paradigm’s first fund raised an initial $400 million in 2018 and made an annual internal rate of return of more than 200% through the first half of this year.

The fund’s assets have reportedly hit a $10 billion high, but can fluctuate sharply along with the price of cryptocurrencies, according to the Financial Times.

DAO Launched to Buy Copy of U.S. Constitution

A new decentralized autonomous organization (DAO) called ConstitutionDAO has been launched to preserve the U.S. Constitution. The organization is planning to pool capital in an Ethereum smart contract to purchase a first-edition printed copy of the document.

Sotheby’s is set to auction the copy of the Constitution on November 18 at 6:30 pm EST. The copy up for auction has been valued between $15 million to $20 million and is sometimes referred to as the Goldman Constitution because it resides in the private collection of the New York-based Goldman family.

The document is one of only 11 surviving 1787 first-edition copies and was purchased in 1988 by S. Howard Goldman for $165,000. Goldman’s wife is putting up for auction to donate the funds to a charity in her name.

If ConstitutionDAO manages to buy the copy of the Constitution, it will be fractionally owned by each of the DAO’s contributors.

Institutional Ethereum Holdings Rose in Q3

Institutional interest in the second-largest cryptocurrency by market capitalization, Ethereum, has been growing. Filings with the U.S. Securities and Exchange Commission show that holdings in Grayscale’s Ethereum trust, ETHE, are up 19% in the third quarter of the year.

In comparison, the number of Grayscale Bitcoin Trust shares held by large institutions dropped 2.6% over the same period. Altogether, large institutional investment managers reported $546.8 million in GBTC and $74.6 million in ETHE holdings.

Firms with at least $100 million in assets under management are required to file a 13F form within 45 days of the end of a quarter to disclose their portfolios. The latest batch of regulatory filings revealed 10 new firms disclosed ETHE investments.

Grayscale’s funds allow investors to gain exposure to their underlying cryptocurrencies without having to manage any public or private keys. The funds are managed for a fee.

The Biggest Liquidations on Aave

Who's been hit the hardest by liquidations on Aave? As @thekakamora notes in the graph below, five different borrowers have been liquidated for more than $20 million across all three versions of Aave — V1, V2, and Aave AMM. What’s more, three have been liquidated for nearly $60 million.

As we can see in the graph above, much of these losses are coming through Aave V2. But what form are these losses taking? According to Twitter user @karl_x_lee, “USDC is the most dominant debt currency in the top 10 liquidations,” while “WETH is the dominant collateral currency.”

Bybit’s DeFi Mining - Check Out The Newest Liquidity Mining Pool on Curve Finance

You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. 

Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit. 

All you have to do so:

1. Choose among 7-, 14-, and 21-day product plans.
2. Stake USDT. 
3. Sit back and collect your rewards.

It’s that easy. 

Terms and conditions apply. Check it out now!

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.