A16z raises $515 million for its second crypto fund
April 30, 2020, 8:50AM EDT
1 min read
Top venture capital firm Andreessen Horowitz (a16z) has announced a second crypto fund - worth $515 million.
Announcing the news on Thursday, a16z said the fund would invest in crypto and blockchain startups that are focused on payments, decentralized finance (DeFi), Web 3 and more.
“Payment blockchains could end up doing to banks what email did to the post office and what VoIP [Voice over Internet Protocol] services did to long-distance carriers,” said Chris Dixon and Katie Haun, co-leaders of the fund.
On the potential of DeFi, they said protocols in the space could transform lending, derivatives, insurance, trading and more via blockchains. “We think the next wave of internet business models will come from crypto,” said Dixon and Haun.
A16z’s “Crypto Fund II” comes a few days after reports that said the firm is seeking to raise $450 million for a new crypto fund.
In 2018, A16z raised $350 million for its first crypto fund, and since then, it has invested in notable firms such as Coinbase, Libra, Maker, Compound and more.
Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency.
The Canadian Securities Administrators, an umbrella group for securities regulators in the country, alongside a self-regulatory organization for the investment industry, has released new guidance for crypto exchanges on the use of social media as well as advertising and marketing.
LMAX Group robust technology and familiar institutional grade trading infrastructure (currently processing over 2 billion orders per day in the global FX market) is the solid backbone of LMAX Digital, delivering access to deep institutional liquidity, transparent price discovery, a regulated trading environment and a full custodian trading solution.