Dragonfly Partner Refutes a16z Partner: Core Crypto Adoption Direction is Financial Use Cases, Heavy Regulation Does Not Aid Scaling

Odaily News Dragonfly Managing Partner Haseeb posted on platform X to refute a16z partner Chris Dixon, stating: Most non-financial crypto use cases have not passed market demand validation, and this is not due to the impact of regulation or industry scandals. If regulation and scams were the factors hindering the large-scale development of the crypto industry, then financial crypto use cases, which face stronger regulatory pressure and more frequent scams, should have similarly failed. However, the opposite is true. Currently, almost all crypto applications that have achieved scaled adoption possess financial attributes, including Bitcoin, stablecoins, programmable money, DeFi, prediction markets, NFTs, and RWA, among others. In the past, significant capital and talent have explored Web3 consumer-grade scenarios, but market demand has not materialized. In reality, the crypto industry does not need to rely on narratives like "it will definitely disrupt gaming and media in the future." The innovation potential within the financial sector alone is sufficient to support the industry's long-term growth.