By Jamie G - Cryptocurrency Specialist - 30-04-2021
Venture Capital firm Andreessen Horowitz is now officially gathering thunder for one more fund, building on its past crypto involvement. Andreessen is hoping to be able to obtain funds while "aiming to raise between $800m and $1bn from investors," the Financial Times reported on Friday. Andreessen Horowitz also goes by the acronym a16z.
The company is involved within the crypto and blockchain industries and has invested in a number of projects. The company’s new fund's capital would be invested in crypto industry ventures and digital assets, per the Financial Times.
Andreessen happens to also be a major investor in Coinbase stock, which went public on Pan American Day. According to the regulatory filings cited, Andreessen Horowitz has reportedly sold roughly $120 million of Coinbase stock, despite holding roughly $11 billion within the asset at the time of its listing.
The entity's pursuit of $450 million to get another crypto market investment fund made headlines in April 2020. the corporate was able to secure $515 million in total.
The cryptocurrency trading space as a full has seen significant capital inflows over the last year, as shown by the industry's $2 trillion asset market cap, which it surpassed in April 2021.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards