Ben Horowitz on Investing in AI: AI Bubbles, Economic Impact, and VC Acceleration - Andreessen Horowitz

Andreessen Horowitz Leads $160M Investment in

BlackRock’s IBIT led the gains with $665.2 million in inflows, offsetting withdrawals from Fidelity and Grayscale, while other funds recorded no net flows. US spot Bitcoin exchange-traded funds (ETFs) recorded $526.7 million in net inflows on Monday, their largest daily intake in nearly a month, after posting net weekly withdrawals in each of the past two weeks. According to Farside Investors, Monday’s inflows were the strongest since Sept. 22, when the funds attracted $714.7 million. Monday’s record reversed Friday’s $82.4 million in net outflows. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $665.2 million, exceeding the net total across all funds. The gains were partly offset by $83.6 million in withdrawals from Fidelity’s Wise Origin Bitcoin Fund (FBTC) and $54.9 million from Grayscale Bitcoin Trust (GBTC). Other funds recorded no net flows, according to Farside. US Spot Bitcoin ETF Flows. Source: Farside InvestorsThe rebound followed two weeks of net outflows on a weekly basis. Last week, spot Bitcoin ETFs shed about $229 million after losing $681 million the week before. The funds also recorded $483.9 million in outflows on Oct.

Sophon has set a Nov. 25 deadline for users to withdraw their assets ahead of its planned mainnet shutdown, following a June announcement that it would abandon its Ethereum layer-2 blockchain and move operations to Base. Sophon said Monday it will begin shutting down key infrastructure and related websites on Nov. 25, and any assets left on the Sophon Chain risk becoming permanently inaccessible. The team has asked users to withdraw any Sophon (SOPH), Ether (ETH), USDC (USDC) and other assets, and claim any outstanding staking or Guardian rewards. Sophon launched as a zero-knowledge-powered layer-2 network focused on consumer applications, including gaming, entertainment and AI. In June, its developers said the costs of maintaining a standalone blockchain no longer justified its benefits and announced plans to focus on consumer finance and AI applications on Base. The shutdown follows a similar announcement from Abstract, the consumer-focused Ethereum layer-2 network developed by Pudgy Penguins’ parent company, Igloo. Abstract announced on Oct. 6 that it would close on Dec. 15, after Igloo lost tens of millions of dollars supporting the network.