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Last week we talked about the difficult road ahead for Coinbase. This week we talk a little bit about Andresen Horowitz, a multi-billion dollar bet on the continued viability of web3. Keep reading to get acquainted with the last episode of the show Chain reaction podcast also.
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May was not the best month for crypto. For weeks, rumors have been circulating that the “buy-down” is freezing as players in the industry struggle in the winter.
A moment of heat came this week when Andresen Horowitz (a16z) announced that he had raised $ 4.5 billion for his fourth crypto fund, more than doubling the size of his latest fund. It is the largest institutional crypto company to date և coming in an exciting time…
While VC companies around the world were pressuring their portfolio companies to reduce burnout rates and limit bad times, many of the crypto co-founders were already ready to raise stupid money just to avoid the need for VCs. cash later. While technology in general has not experienced a long decline since the early 2000s, crypto startups have withstood much more severe boom-and-bust windows. Although many coffers are full, it is fair to assume that crypto winter will put many venture-sponsored startups on the ice.
The A16z did not allow too many details about their exact plans for the fund to be revealed, but they did specify that they plan to allocate at least $ 1.5 billion to the fund for sperm transactions. These are awful lot of seed deals, probably hundreds of deals coming from one stock.
The question is whether the rest of the crypto ecosystem remains around. Many hedge fund participants have burned out markets; other traditional venture companies seem to have slipped their heads into this cycle; they may already be at the door.
For a market that has been buzzing with stupid money for years, any kind of retreat will leave startups, և a16z focusing on young companies with their new fund can be difficult for companies looking to grow dollars.
Noyman, a new man.
Now that Lucas has introduced you to the a16z analysis, Anita is here to let you know about the latest episode of the Chain Reaction podcast, where we open up the latest Web3 news for block-by-block cryptocurrencies.
We talked a lot about Andersen Horowitz, who really said, “What a fall?” this week announcing the largest ever dedicated crypto venture fund. It is true that most of that capital was probably raised before the crypto markets started, but we took out the strategy of a well-known company and discussed a somewhat dubious investment he had just made in a new blockchain startup (hint: he’s kind of like Jared Leto :):
For our guest, we, investor Grace Isford, joined us from Lux Capital to talk about the behind-the-scenes infrastructure to make web3 technology work smoothly.
Look for the money!
Where is the newly created money moving in the crypto world?
- Singapore based metaverse app BUD Led by Sequoia Capital India, it closed $ 36.8 million in Serie B.
- NFT-based social platform Primitives raised $ 4 million in initial investment with Redpoint as a leading investor.
- NFT fraud detection operation double earned $ 5 million in core funding, led by FTX Ventures.
- DAO community management platform General raised $ 20 million from Spark Capital, Polychain, etc.
- Carbon Credit Marking Protocol Carbon flow raised $ 70 million through the A Series, led by the a16z, as well as selling a private symbol.
- Blockchain infrastructure provider StarkWare: closed the $ 100 million Series D led by Greenoaks Capital and Coatue.
- DeFi Personal Finance App Crushed stone Led by Y Combinator, it raised $ 6.2 million.
- Digital Asset Manager Babel Finance: Earned $ 80 million in Series B from Jeneration Capital, 10T Holdings, Dragonfly Capital and more.
- NFT social market Bubblehouse: Gained $ 9 million in fixed assets from Cassius Family, SV Angel, angel investors Steve Aokie և David Getta և and others.
- Cryptographic tax preparation program ZenLedger: Parafi’s Serie B grossed $ 15 million.
week on web3
Everyone was talking about freezing crypto markets, but as space reporters, we felt as busy as ever. Venture capitalists also seem to be busy trying to capitalize on the huge amount of capital they have amassed before moving markets south.
As for the companies that are currently raising new funds, they seem to be convinced that they still exist There are lucrative opportunities in the world of crypto startups that this decline will simply separate the winners from the losers. (They hope there are already winners in their portfolios).
- Most of A16z Web 3 stock speaks of its commitment to space, even if other companies pull back, investor Arianna Simpson says said Lucas in an interview.
- Soona Amhaz’s Volt Capital announced a $ 50 million crypto fund just one year after the debut of its $ 10 million car. Mark Andersen և Chris Dixon are familiar faces supporting Amhaz. Lucas has details here:.
- Anita wrote about: Some of the Twitter drama that erupted this week, when the founder of Fintech startup Eco appeared on the platform, accusing the founders of Pebble, backed by Y Combinator, of copying its business model. The struggle between startups, both of which use stable coins to ensure profitability, has led some to question the investment approach adopted by accelerators like YC.
TC + analysis
Comparative analysis, which you can read in our subscriber service TC + (written by TC Jacqueline Melinek).
Terra community accepts offer to revive LUNA cryptocurrency after stablecoin-led explosion
Nine days ago, Do Kwon, founder of Terraform Labs (TFL), split from a plan to revitalize Terra’s ecosystem after its stable cryptocurrency plummeted earlier this month, crashing crypto markets. Now the plan has received the approval of the Terra community for the new Terra 2.0, which not everyone is sure will succeed. Will history repeat itself?
StarkWare quadruples valuation to $ 8 billion in 6 months, closing in volatile market
Crypto markets may be volatile now, but big players are still raising capital as demand for large-scale blockchain infrastructure remains strong. The most recent example of this is StarkWare Industries, which simply raised $ 100 million, valued at $ 8 billion, the company shared on Wednesday. The new capital came just six months after the unicorn closed the $ 50 million Serie C, quadrupling its value from $ 2 billion to $ 8 billion.
Mastercard exec is growing against crypto, seeing mass acceptance “sooner rather than later”.
Both large and small companies maintain their crypto optimism despite the recent market correction in emerging technology. The mass adoption of blockchain technology և digital assets will take place sooner rather than later, according to Harold Bose, vice president of innovation and development at Mastercard. But now there are a number of challenges that prevent corporations from entering the market, Bose said, as well as, among other things, a lack of understanding of senior management and regulatory concerns.
Luna Foundation guard adviser says Do Kwon did not apply after UST crash
There seems to be no shortage of news about the explosion of Terraform Labs cryptocurrency LUNA և algorithmic stablecoin TerraUSD (UST). One of the four advisers to the Luna Foundation Guard last Friday (who: was Terra Singapore, a non-profit organization dedicated to the protection of the UST), told TechCrunch that it had not met with Terra founder Do Kwon since the UST crash. How does the adviser react to Terra’s situation? Through Twitter, like everyone else, he said:
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