"Andreessen Horowitz Plans to Reduce Investment in UK Crypto Market and Focus on the US"
JH Kim
Summary
- a16z plans to reduce its investment in the UK crypto market and focus on the US.
- This is linked to President Trump's executive order related to crypto assets.
- a16z opened a crypto office in London in 2023 but is discussing withdrawing its expansion plans.
On the 24th (local time), the Financial Times (FT) reported, citing industry insiders, that Andreessen Horowitz (a16z), one of the largest venture capital firms in Silicon Valley, plans to reduce its investment in the UK crypto market and focus on the United States.
It is known that a16z is discussing reducing time and funds invested in the UK market and shifting its focus to the US.
This comes as Donald Trump, the President of the United States, signed the first executive order related to crypto assets, indicating his intention to focus on the US crypto industry, leading a16z to discuss withdrawing its UK market expansion plans.
Previously, a16z had entered London in 2023 and opened a local crypto office.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
