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Andreessen Horowitz projected to invest almost $1 billion into cryptocurrency and related technology

Akash Anand



Andreessen Horowitz projected to invest almost $1 billion into cryptocurrency and related technology
Source: Pixabay

The world of cryptocurrencies has seen a resurgence in terms of both prices and interest from various players in the industry. The latest mainstream financial institution to jump on the cryptocurrency bandwagon is Andreessen Horowitz, with the decade-old company prioritizing cryptocurrencies within its fold. Margit Wennmachers, an operating partner at the firm, said:

“As a firm, we have this massive ambition to be the best investor period, and want the flexibility to invest in what we think is the best investment.”

The move is aimed to give the company more flexibility in the investments that it can take part in. Andreessen Horowitz claimed that the company is planning to invest as much $1 billion into the cryptocurrency industry, which will entail dealing with not just digital assets but also blockchain technology and distributed ledger technology. Andreesen had claimed earlier that the 21st century is the “era of disagreeables”, a statement that could be correlated to the company’s decision to venture into cryptocurrencies.

With the entry into the world of cryptocurrencies, all employees of Andreessen Horowitz will have to undergo background checks and register all their financial holding, crypto as well as fiat. The company, by becoming a registered investment advisor, will possess the complete freedom to delimit its investment rate as well as have the ability to invest any percentage of its holdings in other growth-projected companies. Ben Horowitz, Co-founder of Andreessen Horowitz, had earlier praised Bitcoin while calling it the “leader in store of value”. He also stated:

“The thing that’s deceptive about it is when the new platform at the time is generally worse, in most ways, than the old platform, but has some new capabilities. With crypto, it’s very similar in that it’s worse in most ways than the old computing platform. And that it’s slow. It’s really complex. It’s lacking a lot of features. But it has one feature that has never existed before. And that’s trust

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Binance sees ‘higher number of orders’ than peak Bitcoin frenzy of 2017; hints at iOS app for Binance




Binance exchange is seeing 'higher order number of orders' than peak Bitcoin frenzy of 2017; suggests iOS app for Binance
Source: Unsplash

Binance exchange, the world’s largest cryptocurrency exchange by trading volume, was reported to have problems with a couple of users since there was too much load on the exchange, especially with Web, PC, APP.

CZ tweeted:

He also added that there was much “Higher load” than 2017 when Bitcoin reached its all-time high since inception. Moreover, CZ also said that the APIs for the exchange were working fine and that the team was working on fixing the other issues.

In addition, CZ clarified his tweet about “higher load” as he tweeted:

However, at press time, Binance was the second largest exchange in the whole of crypto space, according to CoinMarketCap, with an adjusted 24-hour trading volume of $2.3 billion. Moreover, as per CMC, the 24-hour change in the trading volume for Binance decreased by 25.78%.

Moreover, Coingecko platform reported that Binance was the largest in terms of the trading volume; it had a normalized 24-hour trading volume of $1.36 billion and $2.38 billion adjusted trading volume.

Although the exchange was hacked a few weeks ago costing it 7000 BTC [now worth $55 million] the exchange, according to CZ, has been performing well enough.

A Twitter user @Khaleed_kareem0, commented:

“Sir, You need bigger servers for this heavy traffic like FB and google, also need to avail the app officially on the App store and update the IOS version All the support for U @binance”

CZ replied to him hinting that they were working with Apple to release an iOS version of the app.

“working with Apple on that one. crypto apps are tricky, it seems.”

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