a16z Bets Big on EigenLayer Again With $70M Token Buy to Back ‘EigenCloud’ Launch

Description

Venture capital firm Andreessen Horowitz (a16z) has invested an additional $70 million in EigenLayer, Ethereum’s largest restaking protocol, to support the launch of EigenCloud, a new platform offering “verifiability-as-a-service” for developers, the companies said on Tuesday. The investment follows a16z’s $100 million Series B in Eigen Labs in February 2024, and underscores its commitment to the project through its Crypto Fund IV. EigenLayer currently secures over $12 billion in restaked assets...