Technology

Andreessen Horowitz enlisted the help of Facebook’s crypto wallet team

The A16z fund, one of Facebook’s early investors, engaged two experts who had previously worked on the Novi crypto wallet.

A16z, the cryptocurrency division, continues to hire new employees. This time, the startup fund’s attention was brought to a team member behind the world’s largest social network Diem blockchain project.

Riyaz Faizullabhoy and Nassim Eddequiouaq have joined the foundation, according to the foundation’s official blog. Both previously worked for Anchorage, a crypto storage firm, before moving on to Facebook’s Novi.

After several more years of work on Novi, also known as Calibra, they left Andreessen Horowitz as CTO and CIO. In addition, Faizullabhoy and Eddequiouaq will advise the fund’s portfolio firms and processes, ensuring that they have the most reliable systems.

These aren’t the first photos to leave the Novi project, by the way. Morgan Beller, the head of the strategic department, departed the company in 2020 to join the venture firm NFX, and Kevin Weil, the co-founder of Novi, resigned before the crypto wallet’s active development period, to join the satellite photography startup Planet Labs.

Marc Andreessen, the fund’s founder, has been a member of the Facebook board of directors since 2008, a year before Andreessen Horowitz was founded. Some in the crypto community believe that this information influenced the professional interaction between these two business behemoths.

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