Cryptocurrency Fund Eyes DeFiAccording to Katie Haun, co-leader of the Crypto Fund II and member on the board of Facebook’s Libra Association, current payments systems have a lot of room for improvement. Haun, who penned the statement along with company partner Chris Dixon, added:
Payment blockchains could end up doing to banks what email did to the post office and what VoIP services did to long-distance carriers.There was particular attention paid to decentralized finance, which has grown rapidly over the past 12 months. The decentralized, Ethereum-based, collateralized lending and borrowing ecosystem is still in its infancy, but Andreessen Horowitz clearly acknowledges its market-disrupting potential.
A Much Needed Market Boost (Hopefully)Framework Ventures co-founder, Vance Spencer, commented that the firm, commonly known as A16z, kept the crypto industry alive during the prolonged bear market that was seen in 2018 and 2019.
“A16z kept early stage crypto alive while it was on life support in 18’/19′, while being one of a few megafunds which fueled a base layer frenzy which the industry is still unwinding from,”Spencer added that funding, which is likely to be broken into smaller $5-$50 million sized chunks, could go into DeFi series B’s, corporate coins such as Facebook’s Libra, blockchain-as-infrastructure, and possibly even new ‘Ethereum killers.’ Spencer concluded that he saw the fund as a “recapitalization of the early-stage crypto scene both from a financial and legitimacy standpoint,” which is overall very bullish for the industry.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.