Andreessen Horowitz, the renowned venture capital firm, has announced its decision to close its UK office and redirect its efforts toward expanding operations in the United States. This move comes in response to what the firm calls the “strong policy momentum” on cryptocurrency under the administration of U.S. President Donald Trump.
Shifting Focus to the U.S.
Anthony Albanese, chief operating officer of Andreessen Horowitz’s crypto division, shared the news in a January 24 post on X (formerly Twitter). While he acknowledged the UK’s enthusiasm for crypto adoption, Albanese said the firm’s decision aligns with the favorable policy environment emerging in the U.S. during Trump’s first week in office.
“This doesn’t change our confidence in the UK’s growing role in crypto and blockchain,” Albanese emphasized. “We’ll continue supporting great entrepreneurs worldwide, including in the UK, and are ready to assist with the UK’s ongoing crypto efforts.”
The London office, opened in 2023 under former Prime Minister Rishi Sunak, marked the firm’s commitment to the UK as a “predictable business environment.” However, with Sunak’s departure following the Labour Party’s electoral victory in July 2024, the UK’s political climate has shifted.
UK’s Crypto Regulatory Landscape
Prime Minister Keir Starmer’s government has announced plans for a comprehensive crypto regulation framework, set for introduction by 2026. Additionally, the administration unveiled a 50-point artificial intelligence action plan in January, aimed at driving economic growth through technology innovation.
Despite these efforts, Andreessen Horowitz is placing its bets on the U.S. market, citing the Trump administration’s swift actions to bolster the crypto industry.
Trump Administration’s Crypto Push
Since assuming office on January 20, President Trump has taken significant steps to support cryptocurrency. These include:
- Executive Order: Establishing a working group to regulate stablecoins and explore a strategic crypto reserve.
- Revamped SEC: With Gary Gensler’s departure, the U.S. Securities and Exchange Commission now plans to form a task force dedicated to creating a comprehensive crypto market framework.
Marc Andreessen, the co-founder of Andreessen Horowitz, has also played a key role in shaping U.S. crypto policy. He contributed over $5 million to pro-Trump political action committees (PACs) during the 2024 presidential race and an additional $22 million to the Fairshake PAC, which supports pro-crypto congressional candidates.
