VC A16z's largest Crypto fund loses 40% in H1 2022
A recent Wall Street Journal article brought to light that venture capital firm A16z’s flagship crypto fund shaved around 40% of its market value in the first half of 2022. Per the report, “ That decline is much larger than the 10% to 20% drops recorded by other venture funds , which have largely avoided the risky practice of purchasing volatile cryptocurrencies, according to fund investors .” Here it is worth recalling that back in May, the firm launched its largest crypto fund at $4.5 billion. The establishment of the said fund brought A16z’s total crypto and Web3 HODLings up to $7.6 billion. WSJ: A16z ’s flagship crypto fund lost 40% market value in the first half of this year, losing $2.9billion in its remaining stake in Coinbase alone. Only 9 deals to crypto startups were announced in the third quarter of this year. https://t.co/wYMtc8o3lZ — Wu Blockchain (@WuBlockchain) October 26, 2022 The long-term horizon The largest...