In 2018, when Bitcoin hovered around $4,000 and many dismissed cryptocurrency as a fleeting trend, Katie Haun stood on a debate stage in Mexico City opposite Nobel laureate economist Paul Krugman. While Krugman highlighted Bitcoin’s notorious volatility, Haun shifted the focus to stablecoins—digital tokens pegged to traditional assets like the U.S. dollar. She emphasized their potential to harness blockchain’s advantages without the price swings typical of other cryptocurrencies. Krugman remained skeptical, dismissing the concept outright.
This debate was one of several pivotal moments in Haun’s journey. A former federal prosecutor, she spent over a decade investigating financial crimes and established the government’s inaugural cryptocurrency task force. In 2018, she became the first female partner at Andreessen Horowitz (a16z), co-leading its crypto funds. By 2022, she launched Haun Ventures with over $1.5 billion in assets under management.
Transitioning from a16z to her own firm presented challenges. Despite her deep industry ties, Haun and a16z haven’t publicly co-invested since her departure. She also stepped down from Coinbase’s board, while Marc Andreessen continues his directorship. Addressing this at TechCrunch’s StrictlyVC event, Haun noted, There’s no ‘gentleman’s agreement.’ In fact, I still talk to Andreessen Horowitz. You’re right that we haven’t really done any deals together of late.
Central to Haun’s vision are stablecoins—cryptocurrencies designed to maintain a stable value by being pegged to traditional assets like the U.S. dollar. Unlike Bitcoin or Ethereum, which can experience significant price fluctuations, stablecoins like Circle’s USDC or Tether’s USDT aim to trade consistently at $1, offering a digital representation of traditional currency that operates on blockchain networks.
Haun’s advocacy for stablecoins stems from their potential to revolutionize global payments. Traditional cross-border transactions often involve multiple intermediaries, leading to delays and fees. Stablecoins can streamline this process, enabling near-instantaneous transfers with reduced costs. This efficiency is particularly beneficial for remittances, where individuals send money across borders to support family members.
However, the rapid growth of stablecoins has caught the attention of regulators. Concerns about financial stability, monetary policy implications, and potential misuse for illicit activities have prompted calls for oversight. In the U.S., the House Financial Services Committee reviewed draft legislation on stablecoins in April 2025, signaling the government’s intent to establish a regulatory framework. Haun, with her background in law enforcement and deep understanding of the crypto landscape, is uniquely positioned to navigate these discussions.
Beyond stablecoins, Haun’s investment strategy reflects her belief in the transformative potential of blockchain technology. In December 2024, Haun Ventures led a $50 million Series B funding round for BVNK, a stablecoin infrastructure company. This investment aims to support BVNK’s expansion into the U.S. market, highlighting Haun’s commitment to fostering innovation in the financial sector.
Haun’s journey from federal prosecutor to crypto investor underscores a broader narrative of traditional finance intersecting with emerging technologies. Her efforts to promote stablecoins and digital dollars reflect a vision of a more inclusive and efficient financial system. As the crypto landscape continues to evolve, figures like Haun play a crucial role in bridging the gap between innovation and regulation, ensuring that the benefits of digital currencies can be realized responsibly.
