.a16zcrypto's flagship crypto fund has cratered by 40% in the first half of 2022 as sentiment around crypto continues to wane. Reporting by oknightcrypto.
established its fourth crypto fund in MayThe new fund was formed during a lull in the cryptocurrency market, with the largest assets like bitcoin and ethereum shedding over 70% of their value since the fourth quarter of 2021. More speculative assets that focus on decentralized finance and Web3 have been hit even harder, with several losing more than 90% of their market caps in less than a year.
Andreessen Horowitz has been far less prolific in its investments this year, making just nine crypto investments in the third quarter of this year compared to 26 deals in the fourth quarter of last year, according toChris Dixon, founder of a16'z crypto arm, told the Wall Street Journal that he remains unperturbed by the downturn in crypto prices.Read more: