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Restaking Protocol EigenLayer Raises $100M From Andreessen Horowitz

Venture capital giant Andreessen Horowitz (a16z) has thrown its weight behind the Ethereum restaking project EigenLayer, investing $100 million in a Series B funding round.

Why Andreessen Horowitz is betting $100 million on crypto restaking

Restaking involves repurposing tokens that are deposited, or “staked,” on a blockchain.

Andreessen Invests $100 Million in Crypto Startup EigenLayer

(Bloomberg) Venture firm Andreessen Horowitz invested $100 million in crypto startup EigenLayer, suggesting that some of the industry’s top backers are still betting on blockchain despite a steep downturn in crypto venture funding.Most Read from BloombergNvidia Set for Biggest Gain in Nine Months as AI Drives SalesBiden Touts $1.2 Billion in Student Loan Relief With Eye to 2024China Tightens Grip on Stocks With Net Sale Ban at Open, CloseYour 401(k) Will Be Gone Within a DecadeShe Was Set to

a16z invests $100 million in EigenLayer — report