A16z’s Crypto Fund Dropped 40% In The First Half Of 2022
The flagship crypto fund of venture capital company Andreessen Horowitz, commonly known as a16z, has dropped by more than 40% in the first half of this year, according to the Wall Street Journal, citing people familiar with the situation.
A16z has invested over $7.6 billion in crypto and Web3 startups through four funds, the most recent of which was created in May.
The new fund was established during a cryptocurrency market decline, with the main assets, such as Bitcoin (BTC) and Ether (ETH), losing more than 70% of their value since the fourth quarter of 2021. Speculative assets centered on decentralized finance (DeFi) and Web3 have been hammered even harder, with some falling 90% in less than a year.
Chris Dixon, the creator of a16z’s crypto unit, told the Wall Street Journal that he is unconcerned about the recent drop in cryptocurrency prices. He stated:
“What I look at is not prices. I look at the entrepreneur and developer activity.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
CoinCu News
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A16z’s Crypto Fund Dropped 40% In The First Half Of 2022
The flagship crypto fund of venture capital company Andreessen Horowitz, commonly known as a16z, has dropped by more than 40% in the first half of this year, according to the Wall Street Journal, citing people familiar with the situation.
A16z has invested over $7.6 billion in crypto and Web3 startups through four funds, the most recent of which was created in May.
The new fund was established during a cryptocurrency market decline, with the main assets, such as Bitcoin (BTC) and Ether (ETH), losing more than 70% of their value since the fourth quarter of 2021. Speculative assets centered on decentralized finance (DeFi) and Web3 have been hammered even harder, with some falling 90% in less than a year.
Chris Dixon, the creator of a16z’s crypto unit, told the Wall Street Journal that he is unconcerned about the recent drop in cryptocurrency prices. He stated:
“What I look at is not prices. I look at the entrepreneur and developer activity.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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