From Breakingviews - London crypto move is a sign of desperate times
British Prime Minister Rishi Sunak attends the London Tech Week at the Queen Elizabeth II Centre in London, Britain June 12, 2023. Ian Vogler/Pool via REUTERS
NEW YORK/LONDON, June 12 - UK Prime Minister Rishi Sunak is eager to bring some Silicon Valley glitz to London. Now venture capital investor Andreessen Horowitzits first non-US office in the British capital, to focus on blockchain and cryptocurrencies. Both parties could use a win. The firm known as a16z could benefit from some geographic diversification. Crypto funds account for about 20% of its $35 billion of assets, yet the U.S. Securities and Exchange Commission last week escalated a crackdown by filing charges against Binance and Coinbase GlobalSunak, who has an MBA from Stanford University, has a history of endorsing flawed tech ventures.
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