Key Takeaways
Andreessen Horowitz is scaling back UK crypto operations to refocus on US opportunities.
Bitcoin prices have surged post-election as Trumpโs executive order signals potential lighter regulations for crypto.
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Andreessen Horowitz (a16z), one of Silicon Valleyโs 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 Trumpโs re-election and his administrationโs 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 a16zโs founders Marc Andreessen and Ben Horowitz have emerged as Trump supporters and policy advisors. Sriram Krishnan, who previously led the firmโs London initiative, stepped down last year to join the Trump administration.
Andreessen Horowitzโs pivot reflects its renewed focus on US crypto opportunities, where Trumpโs 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 Trumpโs leadership.
While a16z maintains its ability to pursue UK deals through US-based partners, one UK official told the Financial Times the firmโs local presence was โnever really here,โ 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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