a16z cuts UK crypto plans as he shifts focus to US opportunities in the Trump era

Key Takeaways

Andreessen Horowitz is scaling back UK crypto operations to focus on US opportunities.
Bitcoin prices have risen after the election as Trump's executive order indicates possible lighter regulations for crypto.

Andreessen Horowitz (a16z), one of Silicon Valley's leading venture capital firms, is shifting its crypto focus back to the US, reducing its UK ambitions, according to its report from the Financial Times.

The decision comes after the re-election of Donald Trump and his administration executive order aims to promote crypto assets and explore the national digital asset pool.

The venture capital firm, which is set to open 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 talks.

The move comes as a16z founders Marc Andreessen and Ben Horowitz have emerged as Trump supporters and policy advisers. Sriram Krishnan, who previously headed the firm's London venture, resigned last year to join the Trump administration.

Andreessen Horowitz's pivot reflects the renewed focus on US crypto opportunities, where Trump's executive order has fueled hopes for lighter regulations.

Bitcoin prices have risen after the election, driven by expectations that the administration will promote a favorable environment for the digital asset sector.

On Inception Day, Bitcoin reached a new all-time high, surpassing $109,000, showing further optimism about 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 that the company's local presence was “never here,” with co- decisions are still centralized in the US.

The Silicon Valley firm, which manages $43 billion in committed capital, has backed UK-based crypto projects including Arweave, Aztec, and Improbable.