Katie Haun: The Journey from Federal Prosecutor to Leading Blockchain Venture Capitalist by Glory Adebajo

Perhaps you’ve heard of a woman in the crypto industry who took down the notorious Silk Road dark web marketplace. Her name is Katie Haun. She led the investigation that resulted in the conviction of Ross Ulbricht, the mastermind behind the illegal online black market.

What’s truly intriguing is how Katie Haun made a significant shift from her role as a federal prosecutor to becoming a leading figure in Blockchain venture capitalism. Today, she is the co-founder and CEO of Haun Ventures, a venture capital firm that focuses on investing in and supporting Web3 and cryptocurrency companies.

In this article, we’ll take you through the journey of Katie Haun’s transformation from federal prosecutor to leading figure in blockchain venture capitalism. 

Katie Haun’s Personal Profile

Katie Haun earned her undergraduate degree from Boston University in 1997 and her Juris Doctor from Stanford Law School in 2000. After law school, she worked as an attorney at Sidley Austin LLP, a multinational law firm that specializes in commercial contracts, corporate governance, and antitrust.

Source: Linkedin

After her stay in the private sector, she was appointed as a law clerk for Supreme Court Justice Anthony Kennedy. Haun also worked at the U.S. Department of Justice (DOJ) from 2006 to 2017, where she served as a federal prosecutor. During this time, she worked alongside agencies such as the SEC, IRS, FinCEN, and the FBI.

During her 11-year tenure at the DOJ, she became well-known for her work in cybercrime and digital currencies. In fact, her role in several high-profile cases made national headlines. Some of the cases she handled involved homicides, organized crime, cybercrime, money laundering, and public corruption.

Haun served as a lecturer at Stanford Law School, where she taught the school’s first course on cryptocurrencies and cybercrime from 2016 to 2018.

Katie has frequently discussed the connection between technology and regulation and has appeared in Bloomberg, Forbes, CNBC, Fortune, The Wall Street Journal, and The New York Times. Notably, she has also testified before Congress.

Katie Haun’s Experience at the U.S. Department of Justice (DOJ)

Katie Haun’s tenure at the DOJ made impactful contributions to the legal aspects of technology and cryptocurrency. During her stay there, she was involved in various roles, including senior policy positions in the National Security Division and the Attorney General’s office. This made Haun’s portfolio cover various critical areas, such as antitrust, tax, and national security. In fact, she was the first person to create the government’s first cryptocurrency task force.

The best part is that Katie Haun’s prosecutorial record was impeccable, with no losses in any case she handled.

Her work at the DOJ also included leading investigations into the misuse of cryptocurrencies and bringing to justice those who exploited digital currencies for illicit purposes. Her efforts led to some of the legal framework around cryptocurrencies and have established her as a pioneer in the intersection of law and digital finance. 

One of Haun’s most notable achievements was her involvement in the investigation and prosecution of the Silk Road case, an infamous online black market operating on the dark web. As the lead prosecutor, she spearheaded the efforts to dismantle the criminal enterprise, ultimately securing the conviction of its founder, Ross Ulbricht, and the takedown of corrupt agents on the Silk Road task force.

Another significant case was her investigation into the hack of Mt. Gox, a Tokyo-based cryptocurrency exchange that operated up to 70% of all Bitcoin transactions at that time. In 2014, the exchange was hacked, and about 72,409 bitcoins were stolen. This led to the company going bankrupt shortly after. 

As a federal prosecutor, Haun led the investigation into the breach to uncover the web of transactions and trace the stolen funds.

Katie Haun’s Transition to the Cryptocurrency Industry

One of the notable moments in her career at the DOJ was her first exposure to cryptocurrency in 2012. Her manager tasked her with investigating whether Bitcoin, the first and most well-known cryptocurrency at the time, could be used as a tool for money laundering by criminals. This investigation began her exploration of cryptocurrencies and ultimately sparked her interest in cryptocurrencies.

As she studied more about digital currencies, Haun quickly recognized the potential of blockchain technology. She saw the possibilities of leveraging this decentralized and transparent system for various applications even beyond financial transactions.

In her own words, she said:

“In the course of that work, the vast potential of these technologies quickly became clear. Like any tool, they could be used for good or for bad, but we had just started to scratch the surface of the good.”

After she left the public sector, she met with several builders and investors in the crypto space, including Brian Armstrong, the founder of Coinbase. Coinbase was one of the world’s largest cryptocurrency exchanges at that time. 

In 2017, Haun joined Coinbase as a board member. Although her tenure at Coinbase was brief, this move was her official entry and transition into the cryptocurrency industry. 

In 2018, Haun joined Andreessen Horowitz (a16z), a renowned venture capital firm, as its 11th general partner. She was also the firm’s first woman to hold that position. During her time there, she invested in and advised tech companies at various stages, from seed to later stages.

Haun co-led a16z’s three rounds of crypto venture funds, the last of which was $2.2 billion in 2021. The funds focused on investing in projects building crypto infrastructure, scalability tools, and other emerging areas in the crypto space, such as decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming. She also led some of Andreessen Horowitz’s major crypto investments, including the NFT marketplace OpenSea.

Perhaps we could say that Haun’s transition from law enforcement to venture capitalism was really a bold and strategic move. It wasn’t short of anything but her passion and belief in the blockchain industry, which is also a result of her legal experience and personal research. 

Consequently, her understanding of the legal and regulatory space surrounding digital currencies made her a valuable asset to the firm. For instance, during her time at Andreessen Horowitz, she co-authored a whitepaper on a proposed regulatory framework for stablecoins.

Katie Haun served as a general partner at Andreessen Horowitz for approximately four years before she announced her departure to start her own capital venture in December 2021.

Katie’s Founding of Haun Ventures 

In 2022, Haun took her passion for blockchain technology and entrepreneurship to the next level by establishing Haun Ventures, her own venture capital firm. 

The company operates with a clear vision to back teams working at every layer of the crypto technology stack. The firm manages a $500 million early-stage fund and a $1 billion acceleration fund to support projects from inception to growth stages.

So far, the firm has made numerous investments across various sectors within the crypto space, including Business Software, Social Software, and Financial Services. Some of Haun Ventures notable investments include companies like Farcaster, and Fireblocks. 

As of May 2024, Haun Ventures has made 48 investments, including token positions, across its early-stage and later-stage funds. This includes a recent investment in Neynar, which raised $11 million, and in Sona, another promising startup in the space.

In addition to financial investments, Haun Ventures is purpose-built to support teams and provide strategic guidance to building the next generation of the web. Haun believes that crypto is a new architecture for the web that enables novel forms of ownership, economic behavior, and collaboration.

Looking at her investment strategy critically, it reflects this forward-thinking approach, as she seeks out projects that challenge traditional paradigms and offer innovative solutions to real-world problems.

Summary

Most of Katie Haun’s career has contributed to the blockchain industry. Even as a federal prosecutor, she participated in major cases that could have affected the industry’s credibility. 

No one who really understands the concept and potential of cryptocurrency wouldn’t leap into it, and Katie Haun is now a true believer who supports the industry’s many innovations. Now, instead of going after criminal activity, she focuses on finding and showing the most effective methods to legally and lucratively invest in cryptocurrency.

Today, her impact on the blockchain industry is profound, ranging from her legal expertise and advocacy efforts to her strategic investments in groundbreaking projects.

As the world continues to grapple with the application of decentralized technologies, her story inspires those seeking to join the blockchain industry or pursue new frontiers.

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Do you know other women in crypto who have done well for the industry like Katie Shaun? Please mention them and their contribution in the comments below.