Silicon Valley venture capital firm Andreessen Horowitzciting the warm climate created by British Prime Minister Rishi Sunak’s government and local regulators for crypto companies as instrumental in making this decision. first in london It plans to open its international office.
London Becomes the European Capital of Crypto
Headquartered in Menlo Park, California, the company said in a statement that the new office, scheduled to open this year, will be the firm’s $7.6 billion cryptocurrency investment arm. a16z It is stated that it will be founded by crypto and will be managed by Sriram Krishnan, one of the general partners of the firm.
This move by one of crypto’s most influential proponents came as US regulators continue to put pressure on the beleaguered digital asset sector, encouraging companies and investors to expand or establish their bases abroad.
The U.S. Securities and Exchange Commission earlier this month that both Binance Holdings Ltd. as well as Coinbase Global Inc. sued for alleged violations of securities rules.
Coinbase, of which Andreessen is an early investor, previously announced plans to establish an international trading platform in Bermuda.
Andreessen, also known as a16z, said he is spearheading a $43 million investment round in UK-based blockchain AI project Gensyn and plans to position its accelerator program for crypto companies in the British capital next year.
“We have been meeting with leaders in the UK for a while,” Chris Dixon, founder and managing partner of a16z crypto, said in an interview.
“As an emerging tech power, we are generally bullish in the UK,” said Dixon, noting that the country is “ahead of the curve” when it comes to crypto regulations, with policymakers taking a “nuanced approach to blockchain and Web3.”
*Not investment advice.
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