Ethereum

2024

Bitcoin

<div class="coinjournal">
 <ul>
 <li dir="ltr">a16z has invested $100 million in Ethereum restaking protocol EigenLayer.</li>
 <li dir="ltr">The startup founded by former University of Washington associate professor Sreeram Kannan raised $50 million in March.</li>
 <li dir="ltr">EigenLayer has a TVL of $7.84 billion, up from $2.15 billion on February 5, 2024.</li>
 </ul>
 Venture firm Andreessen Horowitz (a16z) has invested $100 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in EigenLayer, a startup founded by former University of Washington associate professor Sreeram Kannan.
 According to a Bloomberg report on Thursday, a16z was the only investor in the funding round.
 <h2 dir="ltr" id="a16z-backs-eigenlayer-with-100-million">a16z backs EigenLayer with $100 million</h2>
 EigenLayer is the largest restaking protocol on Ethereum. It allows validators and stakers to earn by restaking liquid staking derivatives such as the Lido staked Ether (stETH) and RocketPool staked ETH (rETH).&nbsp;
 The $100 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> investment adds to the $50 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> that the EigenLayer team raised in March last year.&nbsp;
 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 Accelerating Ethereum Tog<a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>er: @eigenlayer ♾ @a16z<a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>
 We are excited to announce that Eigen Labs, the core development team contributing to EigenLayer and @eigen_da, has raised $100 million from a16z crypto.https://t.co/M2JQ8HZZ0h
 — EigenLayer (@eigenlayer) February 22, 2024
 </blockquote>
 
 The partnership with a16z crypto expands the Eigen Labs and a16z’ commitment to research, the platforms noted. This will include in the area of open source, public goods and long-term support across the industry.
 “a16z is extremely long-term. They first published perspectives on Bitcoin and Coinbase as early as 2013. In the decade since they’ve continued to support the industry in important ways, including advocating for a positive technological future with policymakers and regulators,” the Eigen Labs team noted in a blog post.
 EigenLayer launched in 2021 and has seen tremendous growth over the past few months. At the moment, the <a rel="noopener noreferrer nofollow" title="protocol" href="https://thebittimes.com/tag/protocol.html">protocol</a> ranks as the third-largest by total value locked (TVL) on Ethereum.&nbsp;
 Data from DeFiLlama shows EigenLayer’s TVL currently stands at $7.84 billion, having sharply risen from $2.15 billion on February 5, 2024.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/a16z-invests-100-million-in-ethereum-protocol-eigenlayer-tbt80520.html">https://thebittimes.com/a16z-invests-100-million-in-ethereum-protocol-eigenlayer-tbt80520.html</a>

a16z invests $100 million in Ethereum protocol EigenLayer

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