Andreessen Horowitz’s crypto arm has raised $2.2 billion for its fifth fund, bringing total commitments across all funds to $9.8 billion. The firm said crypto is moving into a more mature phase driven by real-world use cases like stablecoins, on-chain lending, and blockchain-based capital markets. Partners highlighted long-term infrastructure growth supported by evolving regulation, including the 2025 GENIUS Act. The fund signals continued strong venture confidence in practical crypto applications despite weak market prices.
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