Andreessen Horowitz (a16z) has decided to shut down its London office, retreating from its much-publicized UK expansion to concentrate on the US crypto market.
The firm’s decision is largely based on the pro-crypto regulatory actions being established under Donald Trump’s administration.
a16z crypto is Heading Back to the US Market
The venture capital firm entered the UK market in 2023 with its first office outside the US. This move was motivated by the intense regulatory pressures and crackdowns on crypto under the previous administration.
However, the firm has informed local entrepreneurs and policymakers that it will no longer dedicate significant resources to the region. Its London office is set to close completely.
Sriram Krishnan, the partner initially appointed to lead the UK initiative, left his role in London last year and recently joined the Trump administration.
Also, the firm’s founders, Marc Andreessen and Ben Horowitz, have aligned themselves with Trump, offering advice on technology policy.
“We have chosen to focus on the US given the new administration’s strong policy momentum and will therefore be closing our UK office. This doesn’t change our confidence in the UK’s growing role in crypto and blockchain. We will continue to invest in great entrepreneurs no matter where they are in the world, including the UK,” wrote Anthony Albanese, COO of a16z Crypto.
The decision comes after President Trump signed his first crypto-related executive order yesterday. The order established a new Working Group for the digital assets market. The working group will also assess the potential scope to create a national digital asset reserve.
At the same time, the SEC has revoked its controversial SAB 121 policy, making it easier for Banks to custody Bitcoin.
These major pro-crypto movements within the administration’s first week were seemingly a catalyst behind a16z’s decision to focus on the US.
Andreessen Horowitz’s London office opened two years ago with significant attention. At the time, the firm, managing $43 billion in committed capital, emphasized its investments in UK crypto companies such as Arweave, Aztec, and Improbable.
“As the US becomes more business-friendly again, other countries must work harder to retain its business attractiveness. a16z cuts UK crypto plans as it shifts focus to Trump-era US opportunities,” Binance founder CZ wrote on X (formerly Twitter).
The firm remains heavily involved in shaping US crypto policies. In November, a16z crypto committed $23 million to Fairshake PACs to support bipartisan efforts for crypto regulation ahead of the 2026 midterms.
Earlier in April 2024, a16z announced $7.2 billion in funding for tech investments, including gaming and infrastructure. This highlights its growing focus on the gaming industry with the launch of a dedicated Games Fund.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Read the full article here
