CRYPTOCURRENCY Andreessen Horowitz Considers $1 Billion Crypto Investment Fund

Andreessen Horowitz, one of the highest-profile Silicon Valley venture capital firms, will be looking at a new investment fund for investing in cryptocurrency, which could go up to $1 billion, the Financial Times (FT) reported.

This comes after Andreessen’s success with investing in Coinbase, according to FT.

This will be the firm’s third crypto-focused fund. It will attempt to raise between $800 million and $1 billion from investors, which would make it one of the largest pools of capital dedicated to crypto, and around twice the size of its predecessor, FT reported.

A surge in the valuations of bitcoin, ether and other cryptos has caused Andreessen and other such firms to begin raising large “war chests,” according to FT.

Crypto venture capitalists have looked to the success of Coinbase, which went public in April and currently has a valuation of $60 billion.

There have also been numerous direct investments in virtual currencies that have seen boosts in value.

Those returns have made investors confident about their chances, with endowments and foundations renewing their bets.

For instance, Dragonfly Capital was the recipient last month of new investments totaling $225 million and more than doubling the sum it had received in its debut version in 2018, FT reported.

Andreessen’s fundraising would rival that raised by Paradigm, which has garnered $1 billion from investors, including endowments from Yale and Harvard, according to FT.

In other news, Coinbase is working with PayPal to provide a new way for users to purchase crypto with debit cards and bank accounts linked to PayPal.

The company said the idea behind the project is that buying crypto should be as easy as possible, and the partnership with PayPal is intended to provide a level of trust and security with a well-known company.

Those with existing PayPal account will be able to make transactions via Coinbase instantly, without having to add account info.

PS. In our blog pages we got links where you can earn cryptocurrency for free.

Comments

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry. The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling. Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move does not seem to be going over well with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a FAQ provided by Coinbase , for Canadian users, ...

Farm GRASS earn MONEY

Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets. One such groundbreaking avenue involves earning money by selling your unused internet connection. By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks. It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen. The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...

Crypto Ethone

Search This Blog