a16z Crypto invests in Babylon…US$15 million
공유하기
Summary
- a16z Crypto said it made an investment of US$15 million in Bitcoin (BTC) staking protocol Babylon.
- a16z Crypto emphasized that Babylon plans to expand its business from Bitcoin staking into lending.
- a16z Crypto said that by using Bitcoin as collateral, it could increase the productivity of on-chain capital and Bitcoin investors.
a16z Crypto has invested US$15 million (about KRW 22 billion) in Bitcoin (BTC) staking protocol Babylon (BABY).
a16z Crypto said on the 7th (local time) that it invested US$15 million in Babylon. a16z Crypto said, "Babylon will start as a Bitcoin staking protocol and plans to expand into the lending sector," and explained, "By using Bitcoin as collateral, it can utilize the largest scale of on-chain capital not used by DeFi, and it will become a productive asset for Bitcoin investors."
a16z Crypto is the cryptocurrency investment firm of global venture capital (VC) Andreessen Horowitz (a16z). a16z Crypto also announced the opening of a Seoul office last month. a16z is known to highly value the potential of South Korea's cryptocurrency market.
![[Analysis] "Ethereum institutional demand weakens… limited upside for a break above $3,300"](https://media.bloomingbit.io/PROD/news/32e4b2a7-4f84-485c-b9e1-4aff41b29a65.webp?w=250)