A16z expands to the UK!

READ TIME - 1 min 07 seconds

Author

Daniel Akpobare
June 13, 2023

Welcome to The Crypto Explorer! your Crypto tour guide.

Here’s what we got for you today:

  • 😱 A16z Expands to the UK!

  • 🤯 Unified Liquidity Awaits with Polygon 2.0!

  • 🧱 Around The Block: SEC’s Gensler says BTC, ETH ‘not securities’ in a newly surfaced video.

😱A16z Expands to the UK!

Venture capital firm Andreessen Horowitz (a16z) is set to open its first international office outside of the United States.

The decision to expand is driven by a desire for a more “predictable business environment”, says Chris Dixon, a16z's crypto founder and managing partner.

I mean, with recent regulatory actions against crypto firms in the U.S., we could have seen this coming a mile away.😑

The U.K. office will collaborate closely with universities to support blockchain-based clubs and promote the teaching of blockchain technology in classrooms.

And Sriram Krishnan, a General Partner at a16z, will oversee the new office in London.

Why the UK?

Rishi Sunak, the U.K.’s new pro-crypto prime minister attributed the news of a16z’s expansion to having the “right regulation and guardrails” set in place to “foster innovation” while still protecting consumers.

Ouch! Catch that subtle shade to the U.S. (just kidding)😃

The prime minister also cited the U.K.'s world-class universities, talented workforce, and competitive business environment as key factors that attracted a16z.

In addition to opening the UK office, a16z plans to launch a "Crypto Startup School" (CSS) program in London in the spring of 2024.

The CSS accelerator program aims to attract entrepreneurs from the U.K. and around the world who are interested in pursuing careers in Web3.

And get this-

The previous CSS program received over 8,000 applicants, with 26 companies receiving investments from a16z.🤯

So, don’t be caught slacking when it finally launches, that’s if you’re interested.😀

But put your mind at ease – a16z isn’t abandoning the U.S.

The firm remains heavily invested in the U.S. and intends to continue working with policymakers and regulators to advocate for regulatory clarity in the crypto space.

In the meantime, let's raise a glass to a16z's international venture and hope the U.S. can get their act together.🥂

 🤯Unified Liquidity Awaits with Polygon 2.0!

It’s a set of upgrades aimed at establishing the "Value Layer" of the internet, allowing users “to create, exchange, and program value.” 

Ryan Wyatt, the president of Polygon Labs shared on Twitter that the central focus of Polygon 2.0 is to unify the protocols, offer seamless usage across zkEVM, PoS, & Supernets, establish long-term decentralized governance and token evolution.

Talk about aiming high!😳🚀

So, how does it work?

According to the company’s blogpost, Polygon 2.0 operates as a network of ZK-powered L2 chains, unified via a novel cross-chain coordination protocol.

The network can support a practically unlimited number of chains and cross-chain interactions can happen safely and instantly, without additional security or trust assumptions.

This integration will create a user experience that feels like using a single chain, and offer unlimited scalability and unified liquidity.

Polygon Labs plans to release more details about Polygon 2.0 in the coming weeks.

But for now, let's sit back, relax, and enjoy the anticipation.😬

🧱 Around The Block: SEC’s Gensler says BTC, ETH ‘not securities’ in a newly surfaced video.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.

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