If you haven’t heard, crypto is back. Bitcoin topped $100,000, President-elect Donald Trump named podcast host and occasional VC David Sacks as crypto and AI czar, and Hawk Tuah girl launched a meme coin that promptly rug-pulled its somehow credulous buyers. And perhaps most telling of all: Generalist venture funds are returning to blockchain.
Lava, a New York-based Bitcoin lending platform, has raised $10 million for its Series A from Khosla Ventures and Founders Fund, Term Sheet can exclusively report. While Founders Fund has been cautiously active in the crypto space through its partner Joey Krug, who joined from the blockchain fund Pantera in 2023, Khosla Ventures has mostly stayed away after helping plow $100 million into Sam Altman’s eyeball-scanning Worldcoin in 2022.
