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As crypto cools, a16zcrypto raises a $2.2B fund

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4 months ago

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In a blog post that lays out a vision for crypto’s future, ranging from a “new financial system” to warnings about “opaque” AI, a16zcrypto announced a new $2.2 billion fund. This is the VC firm’s fifth fund and brings the total raised to date to $9.8 billion, it says.

In addition, the fund also promoted its CTO, Eddy Lazzarin, to General Partner, bringing the GP investing team to four people. Lazzarin joins Chris Dixon, Ali Yahya, and Guy Wuollet. The fund has backed standout companies like Coinbase, Kalshi, and Solana Foundation.

The timing of this news is a bit ironic, with crypto trading in such a slow period that Coinbase announced on the same day it was laying off 14% of its workforce. March was the slowest trading-volume month across crypto exchanges since November 2023, crypto data and news site CoinGecko reported.

VC investing in crypto startups has cooled, too, landing at nearly $5 billion in the first quarter of 2026, compared to closer to $6 billion in the year-ago quarter, reports DLNews, citing stats from crypto data site DefiLlama.

The a16zcrypto partners acknowledge this. They describe how crypto highs draw in investment and a fervor of startups, but that “we’re at one of those quieter moments now,” they write. However, they insist that much of what gets built during a downtime “is usually more useful than it looked at the peak, and more durable than it looked at the trough.”

Hot market or not, there is VC money out there for blockchain-related startups that can woo VCs. The part founders will have to overcome is that some of the biggest crypto VCs are now being seduced by AI startups. This is an area swimming in rising valuations.

For instance, Paradigm, one of the biggest and most prestigious crypto funds, is reportedly working on raising a fresh $1.5 billion fund to expand its thesis into robotics and AI, The Wall Street Journal reported in February. Plus, Y Combinator, which has cranked out many crypto and blockchain-related startups over the years, didn’t ask for any in its most recent “Requests for Startups” list.

Earlier this week, former Andreessen Horowitz investor Katie Haun announced that her crypto-focused firm, Haun, has also raised a new $1 billion fund and will continue to invest in this market. But she’s also looking for AI agent tech as it intersects with crypto/blockchain and fintech.

The latest a16zcrypto fund will not be lured away by hotter markets, a spokesperson tells TechCrunch, promising that it will be “dedicated 100% to crypto entrepreneurs.”

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2027: OK Movement meets Peter Obi, reaffirms commitment to victory

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August 20, 2026

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The National Executive Council of the OK Movement on Wednesday met with the Nigeria Democratic Congress, NDC, presidential candidate, Peter Obi, and reaffirmed its commitment to victory in the 2027 general elections.

Led by its Director-General, Hon. John Ughulu, the movement discussed its mobilisation efforts and its role in the 2027 presidential campaign.

Present at the meeting were key national and zonal leaders, including National Secretary Saadatu Mohammed Sanni, National Director of Administration and HR, Mrs Aisha Aliyu Abdulrahman and National Director of Operations, Hon. Francis Nnodi.

Others were the Director of Mobilisation and Outreach, Rev. Victor Ekam; and zonal coordinators Chris Elijah (South-South), Adefolaseye Adebayo (South-West), and Alhaji Sulaiman Abubakar (North-Central).

The National Exco and zonal coordinators reaffirmed their commitment to the Obi-Kwankwaso ticket and pledged to intensify grassroots mobilisation, coordination, and voter engagement across the country ahead of the 2027 elections.

They also expressed their determination to work tirelessly towards securing victory for Peter Obi and his running mate under the platform of the NDC.

“The mission is clear. The commitment is unwavering. NDC all the way,” they said.

DAILY POST reports that the OK Movement comprises supporters of Peter Obi and his running mate, Rabi’u Kwankwaso.

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NPFL: Pre-season tournament will get clubs ready for CAF challenges – Owumi 

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August 20, 2026

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Chief Operating Officer of the Nigeria Premier Football League, NPFL, Davidson Owumi, has said the pre-season tournament in Jos will provide Nigeria’s representatives in CAF club competitions with an ideal opportunity to adequately prepare for their continental campaigns.

League champions Rangers International, runners-up Rivers United, and President Federation Cup winners El-Kanemi Warriors are among the teams participating in the pre-season tournament in Jos.

The competition also features two wildcard teams from the host state, Plateau United and Mighty Jets, while Katsina United received a late invitation to replace Shooting Stars.

“Considering that our season would be commencing a few days before the CAF club matches, the NFF and NPFL resolved that it would benefit the clubs to have their players participate in a competitive tournament to further deepen their fitness and cohesion,” Owumi was quoted as saying by the NPFL media.

The 2026/27 NPFL season will kick off on Friday, August 28, 2026.

Defending champions, Rangers will take on Katsina United in the opening fixture of the season.

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