A16ZE Token Plummets After a16z Denies Affiliation
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The A16ZE token suffered a catastrophic collapse following public disavowals from Andreessen Horowitz (a16z) and Believe’s founder. Marc Andrusko, a partner at the prominent venture firm, explicitly stated on X that neither he nor a16z had any connection to the token. This clarification came after rampant speculation had artificially inflated A16ZE’s market cap to $12 million.
Ben Pasternak of Believe reinforced the denial, quashing rumors of collaboration. The market reacted swiftly—GMGN data shows A16ZE’s valuation evaporated to mere hundreds of thousands within hours. Critics now question the origins of approximately $300k in fees generated during the token’s brief surge.
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