a16z-Backed Layer-1 Project Linera Shuts Down After Token Sale Falls Short
Key Highlights Linera, an a16z-backed Layer-1 blockchain founded by former Meta researcher Mathieu Baudet, announced its shutdown on September 19 after a community token sale raised only 57% of its $1.5 million minimum target. The project had previously secured approximately $12 million across two venture rounds—led by a16z Crypto and Borderless Capital—but emergency financing efforts ...