After raising a record-breaking $4.5 billion (3.8bn) for its latest crypto fund earlier this year, Andreessen Horowitz (a16z) has said it sees the ongoing market downturn as an investment opportunity.
Chris Dixon, the founder of a16z’s crypto arm, believes cryptocurrency has the ability to disrupt the power imbalance between consumers and big tech companies like Meta and Twitter.
In an interview on FT’s Tech Tonic podcast, Dixon said that power on the internet currently resides in the hands of a small collective of companies.
“I don’t think this is a good outcome,” Dixon said. “The idea of having the internet controlled by five companies is very bad for entrepreneurs and bad for VCs.”
Since its establishment in 2018, a16z’s crypto arm has raised more than $7.6 billion (6.4bn) to invest in crypto and blockchain companies. Its fourth fund, set at $4.5 billion in May just weeks after TerraUSD and LUNA’s collapse sent the market into panic, highlights how confident Dixon and a16z are in...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...