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The venture firm launched by Coinbase co-founder Fred Ehrsam now has $2.5 billion for placing bets on the next big crypto project.

Paradigm announced Monday the completion of its fundraising efforts. CoinDesk reported in October that the firm was raising around $1.5 billion, according to investor documents seen at the time.

The bountiful war chest suggests continued enthusiasm among well-connected crypto investors as bitcoin and ether flirt with all-time highs.

“This new fund will invest alongside our existing flagship fund across all stages and geographies,” Paradigm’s founding team said in a blog post.

This is a developing story and will be updated.

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