Andreessen Horowitz announced that Michele Korver joined a16z. Korver is the new Head of Regulatory at a16z. Andreessen Horowitz is a well-known venture company that was founded in 2009 by Marc Andreessen and Ben Horowitz.
As the United States is preparing to regulate cryptocurrencies, the capital firm is taking measures to ensure it is operating within the regulatory framework.
Andreessen Horowitz's managed assets are estimated to be around $28 billion. The capital firm has invested in OpenSea and Dapper Labs, gaining exposure to the non-fungible tokens (NFTs) world as well as cryptocurrencies such as Bitcoin.
Andreessen Horowitz Crypto Funds
In 2018, Horowitz raised $300 million for the company's first crypto fund. The company invested in crypto when Bitcoin was trading around $9,400.
source: tradingview
The second crypto fund was launched in June 2021. The company raised $2.2 billion for the new fund. Anthony Albanese, the Chief Operating Officer of a16z Crypto welcomes Korver to the company: "I’m thrilled to announce that Michele Korver will be joining a16z crypto as Head of Regulatory. It is hard to imagine someone better positioned to navigate and help shape the rapidly evolving web3 regulatory landscape.
"There is a very good reason why Michele became known as the DOJ 'crypto czar'. She has spent more than 25 years in government and law enforcement, starting her career in the Secret Service, and advancing to become one of the foremost federal prosecutors in crypto.
"She was the U.S. Department of Justice’s first dedicated subject matter expert in cryptocurrency-related prosecutions and forfeitures and created and managed the Criminal Division’s Digital Currency Initiative.
"Over the past year, she [has] served as Chief Digital Currency Advisor at the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) and worked across Treasury, advising on digital asset-related policy matters.
"In this new role, she’ll be dedicated to making that a reality, working with the builders of these innovative technologies to help them flourish in this still-developing regulatory space.
"It takes a rare talent to build bridges between these stakeholders and turn their shared interests into beneficial regulation.
"We can’t wait for Michele to join the team and know that she will have a big impact on our portfolio companies and web3 as a whole."
source: a16z.com
