a16z crypto division invests $50 million in Jito for token allocation
PANews, October 16—According to Fortune, a16z (Andreessen Horowitz)'s crypto division has invested $50 million in the Solana ecosystem protocol Jito, acquiring an allocation of Jito tokens. Brian Smith, Executive Director of the Jito Foundation, described this deal as the largest single commitment to Jito by an investor, emphasizing that the terms include "long-term alignment," with the tokens not being available for short-term sale and subject to a certain discount. Earlier this year, a16z also invested in LayerZero ($55 million) and EigenLayer ($70 million) through token transactions. Jito is a liquid staking and transaction prioritization tool for Solana.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Faces Price Drop Amid ETF Outflows
Pump.fun Executes $141M $PUMP Token Buyback Strategy
XRP ETF Ruling by SEC May Shape Future of Spot Crypto Funds
Quick Take Summary is AI generated, newsroom reviewed. SEC decision on XRP ETF arrives today. Approval could boost XRP prices and attract institutional investors. Rejection may delay regulated crypto ETFs but allow future revisions. Spot ETFs offer a simpler, regulated way to invest in XRP.References TODAY MARKS THE SEC'S DEADLINE TO APPROVE GRAYSCALE's SPOT #XRP ETF!
BlackRock Clients Sell $146 Million in Ethereum Holdings
Quick Take Summary is AI generated, newsroom reviewed. BlackRock clients offloaded $146.1M in ETH, suggesting a potential institutional rebalancing or profit-taking. The move comes as Bitcoin continues to show stronger performance and attract substantial institutional ETF inflows. BlackRock's overall crypto exposure remains heavily dominated by its Bitcoin holdings, which exceed $100 billion. The selloff is seen as a short-term reallocation, reflecting institutional preference for Bitcoin during market unc
Trending news
MoreCrypto prices
More
