Maker gets backing from a16z Crypto, but the move raises questions

Investments • September 24, 2018, 3:15PM EDT
UPDATED: July 17, 2019, 7:45PM EDT
The Block

Quick Take

  • a16z Crypto has made a $15M bet on MakerDAO
  • The complex investment is designed to promote the project’s Dai stablecoin
  • Interest in stablecoins was already high and likely to grow
a16z Crypto has purchased $15M worth of the MakerDAO's MKR tokenWhat happened and why we carea creation of the Silicon Valley powerhouse venture-capital firm Andreessen Horowitzisn'tPlease note that the a16z crypto fund is a separate legal entity managed by CNK Capital Management ...  a16z crypto is legally independent and operationally separate from the Andreessen Horowitz family of fund[s]."here on Dfinityback five years ago on CoinbaseOur Block by Block primer on stablecoinssupposed toMeltem Demirors on TwitterAs part of this partnership, MakerDAO will receive operating capital through the next growth stage, 3 years of support for the MakerDAO community, and most importantly, full operational support from the 80+ person Andreessen Horowitz a16z team. Specifically, Dai Stablecoin adoption and regulatory support are two of the first priorities."Two coins diverge in the woodsdescribed back in 2015hereher tweetstormInteresting timesthe blog postStablecoins are doomed to failtaking a bit of a victory lap

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