Huang will stay in his role at Paradigm, according to one of the sources, who, like the others, was not authorized to speak about the matter publicly.
Spokespeople for Paradigm and Stripe declined to comment on Huang’s decision or the blockchain project.
Huang’s move will surely raise eyebrows from those in the venture space who question whether the venture investor can balance his roles as the leader of Paradigm and the CEO of an upstart blockchain for one of the premier fintech companies.
Still, Paradigm has a legacy of incubating its own projects similar to Tempo, including the Ethereum development toolbox Foundry and the open-source crypto bot Artemis. But with top crypto players, including Circle, announcing their own blockchains, Huang’s move to lead Paradigm’s latest company reflects the mounting competition in crypto payments.
Updated to include Alana Palmedo’s role as managing partner.
