Andreessen Horowitz’s a16z Crypto invests $50M in Solana liquid staking protocol Jito
The investment deepens a16z’s exposure to Solana’s liquid staking ecosystem as US regulators begin clarifying how such products fit into securities law.
A16z Crypto, the blockchain investment arm of venture capital firm Andreessen Horowitz, has invested $50 million in Jito, a liquid staking protocol that underpins the Solana network.
The deal will grant a16z an undisclosed allotment of Jito’s native tokens at a discounted rate, according to a Fortune report Thursday.
Brian Smith, executive director of the Jito Foundation, told Cointelegraph that the Jito Foundation has “an exceptionally long time horizon,” and the investment “will allow the Foundation to work to make Solana the home for internet capital markets well into the next decade.”