Bitcoin Boom Roils Markets, Andreessen Horowitz Raises $515M

Coinbase experienced a brief outage yesterday as investors raced to the crypto exchange, propelled, in part, by a fear of missing out. 

FOMO is seen elsewhere in the market, as derivatives products soar 300% on daily trading volumes and Grayscale reported a notable uptick in shares of its Bitcoin Trust. Meanwhile, a16z is making another long-term play, launching its second, larger crypto fund. Here’s the story:

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Delayed Telegram
Messaging app Telegram postponed the launch of its TON blockchain for a second time on Wednesday, pushing the new launch date to April 2021. This delay triggers a clawback clause in which the company will offer to return up to 72% of each investor’s stake from its initial $1.7 billion token sale in 2018. Investors can choose to loan their capital to…