The 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 (DeFi) and Web3 have been hit even harder, with several losing more than 90% of their market caps in less than a year.
A16z’s Largest Crypto Fund Loses 40% Value in First Half of 2022: Report
