Andreessen Horowitz, One of the Most Prominent Investors, Invested $50 Million in Solana (SOL)-Based Altcoin! The Price is Rising!
According to Fortune, the cryptocurrency arm of venture capital firm Andreessen Horowitz has invested $50 million in Solana (SOL) staking protocol Jito.
Brian Smith, executive director of the Jito Foundation, said that the company received a stake in Jito (JTO) in exchange for the investment.
Smith also added that this is the largest one-time investment in Jito to date.
Smith noted that while Jito is not well-known in the cryptocurrency industry, it is an important part of the infrastructure for Solana, one of the most popular blockchains in the market.
At this point, Smith said, “We are firmly committed to Solana's growth.”
Following the news, the JTO price started to rise.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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