Andreessen Horowitz, a leading venture capital firm in Silicon Valley, has announced a cutback in its cryptocurrency activities in the UK amid changing political circumstances.
Reduction of Activities in the UK
According to the report from Financial Times, Andreessen Horowitz plans to scale down its investments and operations in the UK. The company first opened its international office in London in 2023.
Impact of Donald Trump’s Re-election
Following Donald Trump’s re-election and a new executive order to promote cryptocurrencies, a16z's founders, Marc Andreessen and Ben Horowitz, have started advising on policy-making. Sriram Krishnan, who led a16z’s London efforts, left last year to join the Trump administration.
Implications for US and UK Crypto Markets
On the day of the inauguration, Bitcoin surged to $109,000, indicating expectations for new crypto infrastructure support from the administration. However, a UK official noted the firm’s local presence was limited from the start.
Analysts suggest that a16z's policy shifts might impact the crypto market by increasing US investments at the expense of international projects.
