May 1, 01:31 PM

Andreessen Horowitz Buys $90M in Optimism's Ethereum L2 OP Tokens, 2-Year Lock-In

Venture capital firm Andreessen Horowitz (a16z), a £35 billion VC, has made a significant investment in the cryptocurrency sector by purchasing approximately $90 million worth of Optimism's OP tokens. This investment highlights a16z's confidence in Optimism's Ethereum Layer 2 technology stack. The purchase involved around 19.5 million OP tokens, which were valued at about $90 million at the time of the transaction. The tokens are subject to a two-year lock-in period, according to the Optimism Foundation. The decision was backed by two sources familiar with the matter.

#Andreessen Horowitz #Optimism #Optimism Foundation

Written with ChatGPT (GPT-4).

Sources

BSCN@BSCNews
2 years ago
A16Z BUYS $90 MILLION WORTH OF OPTIMISM $OP TOKENS - £35 billion VC, @a16z, appears to be very bullish indeed on #Ethereum layer-2 network, Optimism, at least according to reports from Unchained. - According to “two sources familiar with the matter”, the fund has made a private… https://t.co/F4maBYBJ46 https://t.co/Nrvspaixuf
Wu Blockchain@WuBlockchain
2 years ago
According to Unchained, a16z has purchased approximately $90 million worth of Optimism OP tokens. In early March, the Optimism Foundation stated that it sold approximately 19.5 million OP, which was worth approximately US$90 million at the time and had a two-year lock-in period.…
ICO Drops@ICODrops
2 years ago
.@a16z makes $90 million private purchase of @Optimism’s $OP token. https://t.co/ZijFk2vSsK https://t.co/fAAz9OgeCh

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