Dragonfly Partner Refutes a16z Partner: The Core Implementation Direction of Crypto is Financial Use Cases, Strong Regulation Does Not Aid Scaling

Odaily News Haseeb, Managing Partner at Dragonfly, posted on platform X refuting Chris Dixon, a partner at a16z. He stated: Most non-financial crypto use cases have not passed market demand validation; it's not due to regulation or industry scandals. If regulation and fraud were factors hindering the large-scale development of the crypto industry, then financial crypto use cases, which face stronger regulatory pressure and more frequent fraud, should have similarly failed. But the opposite is true. Currently, crypto applications that have achieved scaled implementation almost all possess financial attributes, including Bitcoin, stablecoins, programmable money, DeFi, prediction markets, NFTs, and RWA, among others. In the past, significant capital and talent explored Web3 consumer-grade scenarios, but market demand did not materialize. 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 in the financial sector alone is sufficient to support the industry's long-term growth.