As some of the biggest VCs in crypto start to consider funding AI startups, a16z crypto's new fund will stay the course.

Katie Haun announced on Monday that $1 billion has been raised across new funds to continue the firm’s thesis of backing crypto and blockchain startups.

A16z Crypto’s new fund is less than half the size of its 2022 offering, but its pitch is more disciplined: back the parts of crypto that are actually being used.