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Showing posts with the label venture capital firm

Andreessen Horowitz is already spending big on the 2026 midterms

Andreessen Horowitz (a16z), an important Silicon Valley venture capital firm, has announced that it will be “contributing over $23 million in additional funds to Fairshake and its affiliated PACs for the 2026 midterm election cycle.” In the blog post announcing the move, the firm notes that it intends to support “legislators from both sides of the aisle who understand that crypto isn’t red or blue but is critical in ensuring America remains the leader in technology.” Federal Election Commission (FEC) data compiled by OpenSecrets show that partners of a16z have contributed $44 million to the current election cycle. This is exceeded by $45 million in donations from Ripple and slightly over $45 million from Coinbase.  A variety of other crypto industry participants have also donated to Fairshake, including Jump Crypto, Circle, and Kraken . Additionally, Phil Potter, former Chief Strategy Officer of Bitfinex and Tether, has also donated, as hav...

FTX Sues Sam-Bankman Fried, Embed's Michael Giles, and Silicon Valley VCs

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FTX Trading (Debtors), along with Alameda Research and West Realm Shires (Plaintiff) sued former CEO Sam Bankman-Fried , Nishad Singh , and Gary Wang in a lawsuit. FTX also filed separate lawsuits to recover funds from Embed founder Michael Giles and Venture Capital Firm s. advertisement Also Read: Indian Apex Web3 Body, Crypto Exchanges Push To Restore UPI Access FTX Files Lawsuit Against Sam Bankman-Fried to Recover Funds According to a lawsuit filed in the Delaware bankruptcy court, lawyers representing FTX, Alameda Research, and West Realm Shires seek to claw back $250 million from Sam Bankman-Fried , Nishad Singh, and Zixiao “Gary” Wang. Former executives used FTX customer funds to acquire Embed in March 2022. The plaintiffs failed to conduct proper due diligence for Embed’s acquisition and overpaid for the acquisition. FTX insiders produced misleading records to cover Alameda ’s role in funding the acquisition. ...