![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, March 03, 2022 4:10:09 PM
March 03 2022 - 03:15PM
Cointelegraph
The venture capital firm said Lido's liquid staking solution removes many "operational complexities" institutional investors have faced in staking ETH.
https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/87457273/andreessen-horowitz-invests-70m-in-ethereum-staki
SAM BOURGI
52 MINUTES AGO
Andreessen Horowitz invests $70M in Ethereum staking protocol Lido
The venture capital firm said Lido's liquid staking solution removes many "operational complexities" institutional investors have faced in staking ETH.
Ethereum staking solution Lido Finance has raised $70 million from venture capital giant Andreessen Horowitz, marking the protocol’s first funding round since May 2021.
Andreessen Horowitz’s investment in Lido is intended to further support the adoption of decentralized staking solutions for Ethereum 2.0, a spokesperson for the venture capital firm said. Ethereum 2.0 marks a significant shift in the network’s consensus algorithm by ushering in the adoption of proof-of-stake (PoS) and other upgrades that could enhance scalability and reduce fees. The transition to Ethereum 2.0, which began in November 2020, is still ongoing.
According to Andreessen, staking Ether (ETH) has significant barriers due to the high threshold for operating a node. To become a full validator, users must be able to stake at least 32 ETH, which is worth over $90,000 at current prices.
In addition to investing in Lido, Andreessen said it’s staking a portion of its ETH holdings on the BNB Beacon Chain through the protocol. “Staking with Lido removes many of the operational complexities that institutional investors have faced,” the venture firm said.
Ethereum's BNB Beacon Chain recently registered its 300,000th validator, according to industry data. At the time of writing, nearly 9.7 million ETH had been staked for a total value of over $27.1 billion.
Although terms like Ethereum 2.0 and Eth2 are still widely used in the industry, the Ethereum Foundation announced in January it would ditch such terminology. Instead, it now refers to the original Ethereum blockchain as the "execution layer" and the PoS chain as the "consensus layer."
Founded in 2020, Lido Finance offers a liquid staking solution for Ethereum 2.0, allowing users to stake their ETH with no lockups or minimum deposits. As Cointelegraph reported, Lido also supports other tokens, having only recently added Kusama liquid staking.
Lido concluded a $73 million funding round in May 2021 that was led by crypto venture capital firm Paradigm. Three Arrows Capital, Alameda Research, Digital Currency Group and Alameda Research also contributed.
https://cointelegraph.com/news/andreessen-horowitz-invests-70m-in-ethereum-staking-protocol-lido
Recent ETHUSD News
- Analyst Says ‘Another Leg’ up Possible for Altcoin That’s Exploded 13,000%+ in Five Months – but There’s a Catch • The Daily Hodl • 07/14/2024 12:00:26 AM
- Analysts Unanimous: Solana (SOL) To Soar 100% – Details • NEWSBTC • 07/13/2024 11:00:40 PM
- More Than a Third of Ethereum Supply Worth Over $147,000,000,000 Now Staked, According to Santiment • The Daily Hodl • 07/13/2024 08:00:14 PM
- $1,640,000,000 in Crypto Assets Lost on BNB Chain Since Launch, Says Bug Bounty Platform Immunefi • The Daily Hodl • 07/13/2024 06:45:43 PM
- 180% Upside For Fetch.ai (FET)? Analyst Makes Bold Prediction Amid Market Jitters • NEWSBTC • 07/13/2024 06:30:18 PM
- ETFSwap (ETFS) and Cardano To Steer Altcoin Rally As Spot Ethereum ETFs Push Bitcoin • ZyCrypto • 07/13/2024 05:42:44 PM
- Dogecoin Sees 868% Spike In Whale Buys, Bulls Ready For Breakout Rally • NEWSBTC • 07/13/2024 04:30:55 PM
- Trader Says One Blue-Chip Memecoin Will ‘Do Big Numbers’ This Year, Updates Outlook on Bitcoin and Ethereum • The Daily Hodl • 07/13/2024 09:15:23 AM
- Is Altcoin Season Around the Corner? Bitcoin Halving Points to Potential Boom, Analyst Reveals • NEWSBTC • 07/13/2024 08:00:35 AM
- Total Depletion Of German Bitcoin Reserves: Wallet Left With Zero BTC • NEWSBTC • 07/13/2024 07:00:49 AM
- Analyst Predicts 2,750% Celestia (TIA) Price Explosion To $188, Here’s The Roadmap • NEWSBTC • 07/13/2024 05:30:16 AM
- Bitcoin Price Trajectory Remains Bearish, $49,000 Liquidity Zone Looms As Next Downside Target • NEWSBTC • 07/13/2024 04:00:47 AM
- Crypto Analyst Predicts Bitcoin Decline From Here, But What Happens Next? • NEWSBTC • 07/13/2024 01:00:18 AM
- Trader Says Top-10 Altcoin To Have a Strong Run in the Fourth Quarter, Updates Outlook on Celestia and Render • The Daily Hodl • 07/13/2024 12:00:01 AM
- Is Ethereum (ETH) About To Retest $4,000? Analyst Foresees 3x Rally • NEWSBTC • 07/12/2024 11:30:49 PM
- Here’s what happened in crypto today • Cointelegraph • 07/12/2024 09:53:15 PM
- Market Strategist Predicts 32% Stock Market Crash, How Will This Affect Crypto? • NEWSBTC • 07/12/2024 08:30:12 PM
- XRP Price Eyes Colossal 280% Breakout Amid CME Group Partnership • NEWSBTC • 07/12/2024 07:00:52 PM
- Price analysis 7/12: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/12/2024 05:38:19 PM
- 6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod • NEWSBTC • 07/12/2024 05:30:52 PM
- MOONHOP’s Bold Presale & Roadmap Attract Meme Enthusiasts While BRETT Gains Momentum & Ethereum NFTs Falter • ZyCrypto • 07/12/2024 04:45:13 PM
- Is $73,000 The Top For Bitcoin? Analyst Identifies Where BTC Is In This Cycle • NEWSBTC • 07/12/2024 04:00:15 PM
- Litecoin Is A Hub Of Whales: Over $2.85 Billion Of $100,000 Transactions Processed • NEWSBTC • 07/12/2024 02:30:24 PM
- Ethereum Could Continue Underperforming Bitcoin Even After Spot ETF Approval, Says Benjamin Cowen – Here’s Why • The Daily Hodl • 07/12/2024 02:30:13 PM
Cannabix Technologies and Omega Laboratories Inc. Provide Positive Developments on Marijuana Breathalyzer Testing • BLO • Jul 11, 2024 8:21 AM
ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • ECGI • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM