# a16z probably bought $90M of OP token

Source: https://unchainedcrypto.com/a16z-makes-90-million-private-purchase-of-optimisms-op-token
Kiwi News: https://news.kiwistand.com/stories/a16z-probably-bought-dollar90M-of-OP-token?index=0x6631b508ad9470383e1d0c008d6dcb07f3c57cb03b0d35a07600acd8e44016563a3eaa06
Submitted by macbudkowski.eth on 2024-05-01 UTC, 9 upvotes, 0 comments

## Summary

Venture capital firm a16z has reportedly bought about $90 million of Optimism's native OP token, according to two sources familiar with the matter. The investment is said to be executed under a two-year vesting period, which typically comes with a discounted purchase price relative to the token's trading price. The article notes that Optimism's OP Stack has recently won users such as the Celo blockchain, and that a16z also counts Coinbase among its portfolio companies. A spokesperson for a16z did not respond to requests for comment, and an Optimism spokesperson did not comment on a16z's involvement specifically.