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Andreessen Horowitz (a16z) is planning to raise $3.4 billion for its next early and seed-stage fund. The fundraising is reportedly set to start by the end of year. Andreessen Horowitz (a16z), a crypto-friendly venture capital firm based in Silicon Valley, is targeting approximately $3.4 billion for the next early -stage and seed-stage funds , according to Axios. According to the report, the core fund will represent a slight increase for a16z when compared to previous efforts. New growth, crypto and bio vehicles Andreessen Horowitz is one of the bullish VCs on AI, an area that’s seeing a significant uptick in investments. But as artificial intelligence projects prove a big hit for VC fundraising, the broader landscape is seeing notable declines. The fundraising that report edly is marked to start towards the end of the year eyes “new growth, crypto and bio vehicles in 2025.” Per Axios, the VC giant “will ask, although not require, li...

Superdao founder Yury Lifshits hints at shutting down the platform despite launching many decentralized autonomous organizations (DAOs) since its launch in 2021.  According to a letter published on the company’s Notion, Superdao has ceased operations, saying that the crypto ecosystem “has become much smaller than its initial ambition” of becoming the next generation of internet. The founder stated that Superdao has helped more than 2,000 DAOs to launch with 300 million wallets already indexed.  According to its Crunchbase profile, Superdao raised $1 million in October 2021, soon after it was launched, and $10.5 million on Jan. 26, 2022.  Moreover, the company stated that the remaining funds , while not disclosing the amount, will be return ed to the investors.  “With this view in mind, we decided to return the substantial remaining funds to investors and wind down operations. We believe that both the team and the capital can create bigger outcomes elsewhere....

Author | IOSG Founder, Jocy Editorial | WuBlockchain Original link: https://twitter.com/JinzhouLin/status/1703803442521948638 My nth time attending the founders’ perspective at 2049 This industry is still growing, and this year I have attended various events such as ETHDenver, ETHCC, Black Mountain Zuzalu, Edcon, and so on. At 2049, I still met many old friends. Each such conference in the industry attracts a lot of attendees. Many companies set a budget for such conferences. Hence, with the growth of the industry, even in a bear market, the number of participants continues to rise. LPs continuously support early VCs in the industry, VCs continue to support the founding teams of emerging tracks, and teams continue to expand and grow. Everything seems to be moving in a better direction. However, the reality is different. For many teams , 2049 is their last hope for financing. If the bear market does not end, it might be their last brand exposure. Because of their expansion in the past...

FTX debtors-in-possession have filed a draft plan of reorganization as part of the Chapter 11 process. It has yet to receive approval from any of the appropriate stakeholders, but it does start to lay out how the debtors hope to handle this bankruptcy. The draft plan divides claims against the estate into several different categories, including ‘priority’ and ‘secured’ which are intended to be repaid in full. There are also categories for both ‘dotcom’ customers and ‘US’ customers. Both of these groups are intended to be paid pro rata out of pools of assets from their respective exchanges.   The pools for both US and international customers seem expected to end up short of enough to pay claims fully in cash, and both pools will potentially make an additional “shortfall claim” against the broader “general” pool of assets, in an attempt to make up the funds lost thanks to the alleged misappropriation of assets by...

An Arbitrum-based algorithmic stablecoin project has fallen prey to a smart contract exploit, seeing $2 million stolen from users. Prospective users of an Arbitrum-based decentralized finance (DeFi) project have been left out of pocket following a $2 million exploit . Web3 security firm CertiK flagged the incident on Feb. 21, following an announcement from the Hope Finance Twitter account notifying users that they had been scammed. #CommunityAlert @hope_fin have announced the community has been scammed for ~$2m making this the largest #exitscam on Arbitrum in 2023. $1.86m was transferred to @TornadoCash. Hope_fin have posted steps for user's to withdraw their staked LPhttps://t.co/hJbFXiKujt — CertiK Alert (@CertiKAlert) February 21, 2023 Details of the project are difficult to come by. The platform’s Twitter account was launched in January 2023 and outlined plans for an algorithmic stablecoin called $HOPE which dynamically adjusts its supply relative to the price of ETH....

Join Our Telegram channel to stay up to date on breaking news coverage Everlend Finance, a decentralized finance protocol running on the Solana blockchain, is shutting down its services. The platform is also urging its clients to withdraw funds from the platform as its services have been affected by the market liquidity triggered by the collapse of FTX. Everlend Finance halts services amid liquidity issues The announcement by Everlend Finance noted that while the company could still sustain its operations now, it was not viable for it to continue rendering services given the current market conditions, adding that it would be a gamble to do so. We are deeply saddened to announce that as of today our team has decided to close down https://t.co/UiTuuSdyrB and won’t continue its development — Everlend (@EverlendFinance) February 1, 2023 The company said that the deposits made on the underlying protocols were being held in vaults. However, the app would not allow...