Nathan Apsel, the Chief Financial Officer (CFO), and Reena Jashnani-Slusarz, the General Counsel, are expected to leave Paradigm, a crypto venture capital firm, by mid-September. This news was shared in an internal email from the company. The email expressed gratitude for their contributions during their two-year tenure, which saw significant growth for the firm. Paradigm has expanded in size, launched a venture fund, organized an in-person LP Summit, and grown its Legal and Finance teams.
While the specific reasons for their departure were not disclosed, sources familiar with the matter mentioned that the legal team will continue under the leadership of Chief Legal Officer Katie Biber, who has been with Paradigm for over a year. The firm is also planning to announce a new CFO in the coming months, indicating its commitment to maintaining growth without major operational changes.
In a recent development, Paradigm challenged the authority of the US Securities and Exchange Commission (SEC) to regulate secondary markets for crypto assets. The company filed an amicus brief in support of cryptocurrency exchange Bittrex, arguing against the SEC’s attempt to expand its jurisdiction. Paradigm criticized SEC Chair Gary Gensler for his inconsistent stance on regulating secondary markets, highlighting his previous admission that the agency lacked the authority to do so. The firm also argued that the SEC has no legal basis to consider cryptocurrency assets as investment contracts, even if they were initially sold in an Initial Coin Offering (ICO).