It’s fashionable right now to declare that “non-financial use cases of crypto are dead.” Some people also claim that read write own has failed. These conclusions misunderstand both the thesis and the stage we’re in.
We are clearly in the fina
AI systems are breaking an internet that was designed at human-scale — by making it cheaper than ever to coordinate, transact, and generate voice, video, and text that are increasingly indistinguishable from human activity. We’re already beset w
Each year, the State of Crypto report from a16z crypto cuts through the noise and tracks crypto’s evolution across markets, technology, policy, and culture.
Now in its fourth edition, the 2025 State of Crypto report reveals how crypto has gone mainstream: from stablecoins and tokenized assets to institutional adoption by major financial players. In this episode, we break down the key findings and trends from the report with:
Daren Matsuoka, a16z crypto’s Head of Data & Fund Strategy (lead author)
Eddy Lazzarin, a16z crypto’s CTO
Together, we explore:
Why stablecoins are taking over and what’s fueling their global growth
The rise of institutional adoption — from Stripe and Visa to BlackRock and Robinhood
How AI and crypto are intersecting (and where jobs are moving)
The tokenization of real-world assets
Bitcoin’s resurgence and the new era of “digital gold”
What’s really happening with memecoins, perps, and prediction markets
How privacy, policy, and developer energy are shaping crypto’s next phase
📈 Download the full State of Crypto 2025 report + explore our interactive dashboard to track industry metrics:
👉 a16zcrypto.com/state-of-crypto-2025
📬 Subscribe for more industry reports, trend analyses, and builder insights:
👉 a16zcrypto.substack.com/subscribe
🎙️ Listen, like, share & subscribe for more conversations on crypto, web3, and the future of the internet:
👉 a16zcrypto.com/podcast
*** As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
