London crypto move is a sign of desperate times

NEW YORK/LONDON, June 12 (Reuters Breakingviews) – UK Prime Minister Rishi Sunak is eager to bring some Silicon Valley glitz to London. Now venture capital investor Andreessen Horowitz is setting up its 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 Global (COIN.O), the two largest crypto exchanges….