According to CoinMeta, as reported by Decrypt, a16z announced that it would rename its crypto fund to “a16z frontier” and expand its investment scope to include artificial intelligence, automated machines, and biotechnology. Although the term “crypto” was removed, the company stated that this was a form of “expansion” and that it would continue to invest in the crypto sector. The latest fund size is $2.2 billion, which was announced in May. Chris Dixon from a16z pointed out that blockchain technology has gradually faded from the product backgrounds of Wall Street and fintech companies, so companies should be evaluated based on their actual business rather than just focusing on the underlying technology. Dixon also mentioned that despite the market falling by two-thirds in 2022, he is more concerned with the activities of developers and entrepreneurs rather than price fluctuations.