Andreessen Horowitz (a16z), a major venture capital firm, is closing its UK crypto office and focusing its efforts on the United States. This shift comes in response to what the firm sees as positive policy developments under the new US administration.
Focusing on US Opportunities
a16z’s COO, Anthony Albanese, explained the decision, stating that the firm is prioritizing the US due to “strong policy momentum.” He emphasized that this doesn’t signal a lack of faith in the UK’s crypto scene; a16z will continue investing globally and assisting the UK with its crypto initiatives.
Trump Administration’s Crypto Push
This move follows a recent executive order from President Trump aimed at strengthening US leadership in digital finance. Key aspects of the order include:
- National Crypto Stockpile: The order initiates a review of creating a US government-held Bitcoin and crypto reserve.
- Halt on Government-Backed Digital Dollar: Federal agencies are temporarily barred from working on a government-backed digital currency.
- Private Stablecoin Support: The order promotes the growth of private, dollar-pegged stablecoins.
- SEC Rule Rescission: The SEC reversed a rule that classified customer-held crypto as bank liabilities.
These policy changes appear to have influenced a16z’s decision to concentrate its resources in the US. The firm clearly sees significant opportunities in the evolving US crypto landscape.
