The new fund was formed during a lull in the cryptocurrency market, with the largest assets like bitcoin and ethereum shedding over 70% of their value since the fourth quarter of 2021. More speculative assets that focus on decentralized finance (DeFi) and Web3 have been hit even harder, with several losing more than 90% of their market caps in less than a year.
Source: https://www.coindesk.com/business/2022/10/26/a16zs-largest-crypto-fund-loses-40-value-in-first-half-of-2022-report/?utm_medium=referral&utm_source=rss&utm_campaign=headlines