Their firm, Andreessen Horowitz, claims to be the largest crypto investor in the world and raised about $8bn to invest in the sector.

When they announced their support for Trump, the two venture capitalists railed against Joe Biden’s White House and Gary Gensler’s Securities and Exchange Commission. “They have just fought us every step of the way, and using very nefarious means,” Horowitz said at the time. “They are nuking the industry.”