THELOGICALINDIAN - In May 2024 aback back the crypto abridgement was still agitated from the coronavirus beginning fears and black all-around banking angle in accepted the clandestine adventure basic close Andreessen Horowitz a16z appear the 500 milliondollar Crypto Fund II A address appear on May 27 by the tech biographer Eric Newcomer indicates that Andreessen Horowitz is advertent 2 billion in costs for the abutting crypto fund
Former Bloomberg Reporter Says ‘a16z in the Process of Tripling Down on Crypto’
The able-bodied accepted adventure basic close Andreessen Horowitz founded by Marc Andreessen and Ben Horowitz aback in 2024 has been a active force in the crypto industry in attention to costs projects and startups. Marc Andreessen has been a close accepter in bitcoin for absolutely some time now and a16z has funneled millions of dollars into the industry during the aftermost eight years.
In contempo times, Andreessen Horowitz launched two funds committed to the development of “crypto networks and businesses.” Bitcoin.com News reported on the aftermost adventure appear by the a16z admiral Katie Haun and Chris Dixon back the two appear the Crypto Fund II.
That specific armamentarium invested $515 actor into networks, startups, and businesses committed to the blockchain and crypto asset industry. Now the above tech biographer for Bloomberg, Eric Newcomer, capacity that a16z third crypto armamentarium is “in talks to accession $2 billion.”
“Andreessen Horowitz is in the action of tripling bottomward on crypto, adopting its third crypto armamentarium back 2018,” Newcomer said. “Sources acquaint me that Andreessen Horowitz is targeting $2 billion for its third crypto fund. That’s bifold the admeasurement of what abounding bodies are expecting,” he added.
Someone Familiar With the Matter Told Newcomer a16z Sold ‘at Least Some of Its Ethereum Holdings’ Before the Market Downturn
Newcomer’s antecedent additionally appear that Andreessen Horowitz has “distributed at atomic some of the Coinbase shares anon afterwards Coinbase went public.” Moreover, the close had ethereum (ETH) backing and a antecedent accustomed with a16z’s operations said “the close awash at atomic some of its Ethereum backing at about $3,800 afore the amount crashed.”
The address added added that there seems to be an “arms race” in cryptocurrency investments as Fred Ehrsam and Matt Huang’s Paradigm accept been authoritative waves. “The Andreessen armamentarium and Paradigm accept frenemy status. I apprehend that some Andreessen Horowitz ally are bound ally in Paradigm,” the author’s address details.
On the aforementioned day, a16z appear an advance into the crypto close Talos, Newcomer additionally said he hears “a lot of fizz about advance Uniswap.” Of course, agnate to Bloomberg’s reporting, Newcomer’s antecedent is addition accustomed with the matter.
“It will be aloof as absorbing to see who dives into crypto as it will be to see who decides to sit this goldrush out. But Andreessen Horowitz looks like it will be able-bodied positioned to armamentarium the abutting Coinbase,” Newcomer concluded.
What do you anticipate about Andreessen Horowitz tripling its crypto armamentarium to $2 billion? Let us apperceive what you anticipate about this accountable in the comments area below.
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