According to The Block, a16z Crypto announced on Wednesday the appointment of Eddy Lazzarin as its new chief technology officer to oversee the venture capital fund's research and security teams. Chris Dixon, founder and managing partner of a16z Crypto, wrote in a blog post: "It takes truly special wisdom to stand out among the technical experts in this field, and we are lucky to have such people on our team."

Lazzarin, who previously served as the company's head of engineering, will continue to lead the engineering and data science teams. According to its website, a16z Crypto invests in encryption and Web3 startups and has raised more than $7.6 billion.