Bring the broth to a boil in a small saucepan, then turn the heat to low and keep it at a simmer.
Heat olive oil and butter in a large saucepan or Dutch oven. Add the onion and cook for about 5 minutes, until it is translucent.
While the onion is cooking, season the seafood with salt, pepper, and paprika.
Add the garlic to the pan with the onion and cook for 1-2 minutes, until fragrant.
Next, add in the arborio rice to the onion mixture and toast it for about 2 minutes. Pour in the wine, if using, and cook until it is fully absorbed about 4 minutes. Pour in the can of diced tomatoes and cook, stirring, until liquid has been absorbed.
Add in the salt, pepper, turmeric and cayenne to the pan and stir to combine.
Using a ladle, add approximately 1 cup of simmering broth to the rice and cook, stirring mostly continuously until all of the broth has been absorbed.
In the meantime, heat 1 tablespoon of olive oil over medium-high heat in a skillet. Next, add seafood to the pan and cook until it is almost done, about 5 minutes.
Repeat Step 7 until you have used all of the broth. Turn off the heat, add basil and parmesan to the pan and mix until combined. Stir in the seafood, serve and top with more parmesan cheese, if desired. Enjoy!