with @DarenMatsuoka @eddylazzarin
Today, we’re bringing you something special: a presentation from our 2025 Founders Summit, which we just wrapped last week in beautiful Carlsbad, Calif. You’ll hear from Daren Matsuoka, our Head of Data and Fund Strategy, as he walks through the insights from this year’s State of Crypto report — our deep-dive into the data, themes, and signals shaping the industry right now.
Stay through to the end for audience Q&A featuring our founders and to hear a16z crypto CTO Eddy Lazzarin share his takes on this year’s findings. To watch the full video — and explore more deep dives, explainers, and interviews — visit the a16z crypto Youtube channel. Don’t forget to like and subscribe to stay updated.
Oh, and if you haven’t already, be sure to check out the full State of Crypto report at a16zcrypto.com/stateofcrypto, and also to listen to the episode just before this one — a conversation between Daren, Eddy, and me where we unpack the numbers and trends, explain what they mean, and why they matter.
Timestamps:
00:00 Introduction
01:56 Crypto Market Developments in 2025
07:19 Institutional Adoption and Market Trends
09:05 Stablecoins: The First Killer Use Case
12:08 The Evolution of Decentralized Finance (DeFi)
13:18 DePIN and Physical Infrastructure Networks
15:12 Blockchain Scaling and Infrastructure
17:24 Privacy, ZK Technology, and Quantum Computing
18:53 Crypto and AI: Converging Technologies
21:08 Regulatory Clarity and Legislative Progress
23:27 Looking Ahead
24:04 Q&A Session
📊 Download the full State of Crypto 2025 report and explore our interactive dashboard to track the industry’s key metrics.
📩 Subscribe for more industry reports, trend updates, news analysis, builder guides, and other resources.from a16z crypto: https://a16zcrypto.substack.com/subscribe/
🎙️ Like, subscribe, comment, share the show: https://a16zcrypto.com/posts/podcast/
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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.
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