Illustration: Rebecca Zisser/Axios

Andreessen Horowitz announced Monday that it has raised $300 million to invest in cryptocurrency-related startups, and that it will be led by former federal prosecutor Kathryn Haun.

Why it matters: Haun, who becomes Andreessen Horowitz's first female partner, is best known in tech circles for taking down a corrupt FBI agent involved in the infamous Silk Road investigation, and also for having founded the government's first-ever crypto task force.

  • Andreessen Horowitz has invested in crypto assets for years, but was bumping up against a 20% limit of "non-qualifying investments" out of its general fund. So it decided to raise a dedicated one.
  • The fund will primary invest in crypto startups, via equity, convertible notes or tokens. But it also will buy and hold unaffiliated crypto assets (e.g., Bitcoin, Ether).
  • Andreessen Horowitz first became acquainted with Haun last summer when she joined the board of Coinbase, an Andreessen Horowitz portfolio company.
  • Haun tells Axios that, while teaching at Stanford after leaving the Department of Justice, she began making crypto investments. "I think becoming [a venture capitalist] is just a natural part of my transition."
  • She becomes the firm's first-ever female general partner, and also its first to have not previously been a founder or CEO.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Biden enters final stretch with huge cash advantage over Trump

Democratic presidential nominee Joe Biden in Wilmington, Delaware, on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month.

Go deeper: The green tsunami

Editor's note: This is a developing news story. Please check back for updates.

Court allows North Carolina mail-in ballots deadline extension

An absentee ballot election worker stuffs ballot applications at the Mecklenburg County Board of Elections office in Charlotte, North Carolina, in September. Photo: Logan Cyrus/AFP via Getty Images

North Carolina can accept absentee ballots that are postmarked Nov. 3 on Election Day until Nov. 12, a federal appeals court decided Tuesday in a 12-3 majority ruling.

Why it matters: The 4th Circuit Court of Appeals' ruling against state and national Republican leaders settles a lawsuit brought by a group representing retirees, and it could see scores of additional votes counted in the key battleground state.