2020-06-01 16:30:19
Andreessen’s Haun Says More Libra-Like Crypto Projects to Follow
Venture capital firm is an investor in Libra, competitor Cello
‘We are in the dial-up days of internet money,’ Haun said
By Olga Kharif
(Bloomberg)
Katie Haun, a general partner at Andreessen Horowitz, said that in 10 years money will be digital, the same way books and music are today and that efforts such as Libra, which the venture-capital firm has invested in, will be key to getting there.
Libra, of course, is the controversial project started by Facebook Inc. a year ago, with the idea of creating a a global digital currency. The effort has run into regulatory and political resistance, and has had to regroup. But the pressure hasn’t made Andreessen less of a believer. The firm has invested in rival Cello as well.
“There will be other entrants in this category,” Haun said. “Fundamentally everybody on the planet has a need to transfer value.”
While many venture-capital firms remain wary of crypto, Andreessen has recently started a second, $515 million fund, which Haun co-manages, that’s investing in cryptocurrencies and blockchain projects. She serves on the boards of companies including digital exchange Coinbase Inc. Before joiningAndreessen in 2018, Haun spent a decade as a federal prosecutor focusing on fraud, cyber and corporate crime, and was involved in untangling the Mt Gox crypto exchange collapse.
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