A16ZE Token Crashes After a16z Executive Disavows Any Involvement

A16ZE, a newly issued token on the Believe platform, saw its market capitalization plummet from $12 million to just $500,000.   This event stemmed from misunderstandings regarding the relationship between the A16ZE token, the Andreessen Horowitz (a16z) venture capital firm, and Believe’s founder, Ben Pasternak. The Misunderstanding That Spiked A16ZE’s Market Cap In the morning, Marc Andrusko, a partner at a16z, went to X to clarify that neither he nor a16z had any connection to the A16ZE or B16Z tokens. This statement came after the community spread false information suggesting a16z was behind these tokens, causing A16ZE’s value to surge to $12 million the previous evening source: https://beincrypto.com/a16ze-token-crashes-after-a16z-executive-disavows-any-involvement/