The startup, whose backers include Peter Thiel’s venture firm and Robinhood, is challenging Hyperliquid in the highly competitive market for perpetual futures.
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“Their vision is to bring about Starlink for money,” said Caitlin Pintavorn, a partner at Paradigm.
This is the high-profile startup’s first venture investment since Tempo was founded this year.
Mustafa Al Niama was head of the Americas division of Goldman Sachs’ digital assets desk.
The Chicago-based company has backed crypto stalwarts like the stablecoin giant Circle and the blockchain-based lender Figure.
Hyperliquid’s rapid rise poses a test for decentralization.
Electric Capital and Paradigm led the round, which builds on an earlier grant from Ethereum founder Vitalik Buterin and the…
