Andreessen Horowitz (a16z), a top venture capital firm in Silicon Valley, is refocusing its interest towards the United States and limiting its cryptocurrency activities in the United Kingdom.
The change follows Donald Trump’s return to the Oval Office and the administration’s new executive order to promote crypto assets and explore creating a national digital asset reserve.
As per the report from Financial Times, a16z plans to cut back on investment and operations in the UK. The company first opened its international office in London in 2023.
The founders of a16z, Marc Andreessen and Ben Horowitz, have become Trump supporters and are now advising on policies. Sriram Krishnan, who had led a16z’s London efforts, left last year to join the Trump administration.
After becoming the 47th president of the USA, Trump has focused on pro-crypto policies and hopes for lighter regulation, which led the a16z to refocus on U.S. crypto opportunities.
Changpeng Zhao, co-founder of Binance, tweeted, “As the US becomes more business-friendly again, other countries must work harder to retain its business attractiveness.”
On the day of the inauguration, Bitcoin jumped to $109,000 and reached its all-time high, reflecting excitement about the new administration’s support for digital assets.
While a16z can still invest in UK projects through U.S.-based teams, one UK official said the firm’s local presence was limited from the start, with decisions mostly made in the U.S. The company, managing $43 billion, has previously backed UK crypto projects like Arweave, Aztec, and Improbable.
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