In response to US President Donald Trump’s “strong policy momentum” on crypto, venture capital firm Andreessen Horowitz will pull back its operations in the UK.

In a Jan. 24 X post, Anthony Albanese, COO of Andreessen Horowitz’s crypto division, acknowledged the “enthusiasm for crypto building and adoption” in the UK but confirmed plans to shut the office. According to Albanese, the firm intends to focus on the US market, following actions taken by Trump in his first week in office.

“This doesn’t change our confidence in the UK’s growing role in crypto and blockchain,” said Albanese. “We will continue to invest in great entrepreneurs wherever they are, including the UK. We are also ready to support the UK’s crypto efforts.”

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The venture capital firm had opened a crypto office in London in 2023, citing the country’s “predictable business environment” at the time. Back then, former Conservative Party leader Rishi Sunak was the Prime Minister, but power shifted to the Labour Party following the July 2024 elections.

The UK government under Prime Minister Keir Starmer has announced plans to introduce a comprehensive crypto regulatory framework by 2026. In January, the Prime Minister also revealed that the government plans to adopt a 50-point AI action plan to support economic growth.

US versus UK Crypto Policy

Since taking office on January 20, Trump has signed an executive order aimed at exploring regulations on stablecoins and a strategic crypto reserve. The US Securities and Exchange Commission (SEC), now operating with only three commissioners after former Chairman Gary Gensler’s departure, has stated it will form a crypto task force to develop a market framework.

Marc Andreessen, co-founder of the venture capital firm, contributed more than $5 million to US political action committees (PACs) for Trump’s 2024 presidential race and donated $22 million to the Fairshake PAC to elect “pro-crypto” congressional candidates.

He had previously described himself as an “unpaid intern” for Tesla CEO Elon Musk’s government efficiency committee under Trump, which is facing lawsuits after the January 20 inauguration.

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