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Andreessen Horowitz Buys $90M in Optimism's Ethereum L2 OP Tokens, 2-Year Lock-In
May 1, 2024, 01:31 PM
Venture capital firm Andreessen Horowitz (a16z), a £35 billion VC, has made a significant investment in the cryptocurrency sector by purchasing approximately $90 million worth of Optimism's OP tokens. This investment highlights a16z's confidence in Optimism's Ethereum Layer 2 technology stack. The purchase involved around 19.5 million OP tokens, which were valued at about $90 million at the time of the transaction. The tokens are subject to a two-year lock-in period, according to the Optimism Foundation. The decision was backed by two sources familiar with the matter.
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