Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil
Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind and more than double the amount of its third crypto investment fund. With $3 billion earmarked for venture investments and $1.5 billion for early-seed projects, the fund will look to invest in companies at various stages in their life cycle. Andreessen’s new fund provides a strong indicator that venture capital interest in the crypto market remains high despite evidence of a brutal bear market.
JPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset
A client-focused note from JPMorgan this week detailed the banking giant’s thoughts on Bitcoin, claiming $38,000 as the asset’s fair value. The seemingly bullish outlook came on the heels of depressed price action for Bitcoin, which has been rangebound below $30,000. But even in February, when BTC was valued at $43,000, JPMorgan strategists said that $38,000 was fair market value. This week’s client note from JPMorgan also pointed to the possibility of positive price action for the entire crypto space — provided venture capital investment doesn’t waver.
WEF 2022: PayPal looks to embrace all possible crypto and blockchain services
Per comments from vice president Richard Nash, PayPal has its sights set on giving its platform more blockchain and crypto influence. “Just walking slowly in the crypto shield with buy/sell/hold in certain jurisdictions,” Nash told Cointelegraph at the World Economic Forum (WEF) in Davos, Switzerland. “And then looking to work with others to embrace everything we can, whether it’d be the…