Former BitLicense Chief to Manage Andreessen Horowitz's Cryptocurrency Efforts

The one-time New York State finance regulator who shepherded the state's BitLicense through its early days will join tech ventures fund Andreessen Horowitz (a16z) to focus on cryptocurrency companies.

• An a16z blog post said the fund's new chief regulatory officer, Anthony Albanese, will focus on crypto portfolio companies in "gaming, digital storage, payment systems, social media, creative marketplaces and more."
• Albanese most recently led the New York Stock Exchange's regulatory division. He had previously served as acting superintendent for the New York State Department of Financial Services during the BitLicense's 2015 launch.
• “We’re seeing so much happening in the frontier areas like DeFi and stablecoins but also among the legacy financial services institutions from PayPal to JPMorgan," said Katie Haun, an a16z general partner. "He’s really the perfect addition at the perfect time."
• The Wall Street Journal reports Albanese will start at a16z in November.

See also: PayPal’s Move Is Good for Crypto Adoption but Not So Much for Profits: Morgan Stanley