a16z cuts UK crypto plans as it shifts focus to Trump-era US opportunities
Key Takeaways
Andreessen Horowitz is scaling back UK crypto operations to refocus on US opportunities.
Bitcoin prices have surged post-election as Trump’s executive order signals potential lighter regulations for crypto.
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Andreessen Horowitz (a16z), one of Silicon Valley’s leading venture capital firms, is shifting its crypto focus back to the US, scaling down its ambitions in the UK, according to a report from the Financial Times.
The decision comes after Donald Trump’s re-election and his administration’s executive order aimed at promoting crypto assets and exploring a national digital asset stockpile.
The venture capital firm, which opened its first international office in London in 2023, plans to reduce both investments and operations in the UK, according to two people familiar with the discussions.
The shift comes as a16z’s founders Marc Andreessen and Ben Horowitz have emerged as Trump supporters and policy advisors. Sriram Krishnan, who previously led the firm’s London initiative, stepped down last year to join the Trump administration.
Andreessen Horowitz’s pivot reflects its renewed focus on US crypto opportunities, where Trump’s executive order has fueled optimism for lighter regulations.
Bitcoin prices have surged following the election, driven by expectations that the administration will promote a favorable environment for the digital asset sector.
On Inauguration Day, Bitcoin reached a new all-time high, surpassing $109,000, further reflecting optimism around the future of crypto under Trump’s leadership.
While a16z maintains its ability to pursue UK deals through US-based partners, one UK official told the Financial Times the firm’s local presence was “never really here,” with decision-making remaining centralized in the US.
The Silicon Valley firm, which manages $43 billion in committed capital, had previously backed UK-based crypto projects including Arweave, Aztec, and Improbable.
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