Andreessen Horowitz plans $1 billion cryptocurrency VC fund: Report

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Venture capital big Andreessen Horowitz is seeking to increase a fund of as a lot as $1 billion to spend money on cryptocurrencies and crypto startups, the
Financial Times reported on Friday.

The new fund is aiming to boost between $800 million and $1 billion from traders, the report stated, citing folks aware of the matter. Andreessen Horowitz didn’t instantly reply to a Reuters request for remark.

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The information of the event comes as cryptocurrencies surge in worth this 12 months, with a clutch of top-tier corporations together with Tesla diving into the area.

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