Andressen Horowitz’s first crypto fund launched in 2019 has lost 40% of its value in the first half of the year. Unnamed sources familiar with the firm’s crypto fund told The Wall Street Journal that a16z has been struggling to convince investors that it hasn’t bet too big on crypto. “What I look at is not prices,” Chris Dixon, who heads up a16z’s crypto unit, told the WSJ. “I look at the entrepreneur and developer activity. That’s the core metric.” The firm’s activity has been scarce during crypto winter. Recent news from a16z’s crypto portfolio includes the hi ...
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