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Andreessen Horowitz Starts a $300M Crypto Fund Co-Led by Female General Partner

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Andreessen

As per new announcement released on Monday, June 25, the investment firm from Silicon Valley, Andreessen Horowitz has decided to make a couple of interesting new moves. The company has started a $300 million fund with a focus on cryptos and all aspects related to cryptos. As part of the move, the company hired Kathryn Haun, a former Assistant US Attorney and a federal prosecutor.

The crypto market is currently going through one of its bad phases, which is why the recent announcement released by Andreessen Horowitz is actually a very good news right now. The company has decided that it wishes to support cryptos and all things related to them through a large fund that consists of $300 million.

Kathryn Haun to co-lead the fund

The announcement was made through the company’s blog post yesterday, and it states that the fund’s name will be “a16z”. Interestingly enough, the company decided to hire a new co-lead for the fund, Kathryn Haun. Haun was previously the US Department of Justice’s federal prosecutor, which is a position that she held for 10 years. During this time, she was mostly focused on crypto startups and digital assets.

During her career, she made quite a few impressive achievements, including the takedown of Silk Road task force’s corrupt agents. She also led the Mt. Gox investigation. After that, she became Coinbase’s board director and is now one of the leaders of Andreessen Horowitz’s new fund.

About the fund

Considering the fact that the company has already invested millions upon millions into various protocols and projects revolving around a range of use cases, it is really not that surprising that they would try and expand their activity scope. After all, one of the firm’s most notable investments is actually into Coinbase itself.

The new fund will be used for similar investments into various companies The fund is not only for cryptos specifically, but will e used for blockchain projects, ICOs, and any startup willing to try and launch their own coin. This is not even the first time that the firm has done something like this, and one of their previous funds has seen around $100 million invested in cryptos.

According to Chris Dixon, the firm’s general partner, the company is interested in supporting the crypto market and in making long-term investments. He stated that the company has been investing in cryptocurrency assets for over five years now and that they never decided to sell any of the investments. He added that the new fund will be capable of holding the investments for more than 10 years.

Another very important part of Dixon’s statement is that the firm will keep investing in cryptos, no matter what situation the market is facing. This is, without a doubt, an excellent news for cryptocurrencies, which are constantly struggling to remain stable.

In the end, Dixon stated that the company is excited to start this fund, and to be able to keep a certain flexibility to it. They will make the investments that they wish to make, and help the projects with the most potential.

Crypto world lacks female investors

As for the choice to bring Haun into the program, many see it as an excellent opportunity. Despite the fact that she does not have direct experience when it comes to matters like this, she has still proven to be quite capable. She possesses the necessary knowledge and even has a crypto course at Stanford. Her involvement is also important from another perspective, considering that the women’s interest in cryptos is much lower than that of men.

According to Dixon, the crypto world does not attract enough female investors, which makes the gender diversity in need of improvement. There have been various programs and attempts to interest women in crypto and blockchain technology, but despite the efforts, the process is still pretty slow.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of JD Lasica via Flickr

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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