Jito Foundation, supporting Solana blockchain, raises $50 million in private token sale led by a16z crypto. Funding to scale Jito Network, expand developer tools, and build liquid staking solutions. JITO token rises 4% to $1.17. Products include Solana validator client and JitoSOL staking token with $3.2 billion market cap, enabling staking rewards and fast transactions. Backed by a16z, Jito plans to grow open-source tooling, support new developers, and expand globally. Funding follows VanEck JitoSOL ETF proposal for regulated exposure to staking yields, aiming to integrate Solana products into traditional finance. A16z crypto sees Jito as key player in Solana’s growth.

Read more at Yahoo Finance: Andreessen Horowitz’s a16z Invests $50M in Solana Staking Protocol Jito