PANews reported on December 31 that Dragonfly partner Rob Hadick said that crypto venture capital will grow significantly in 2025, driven by the relaxation of the US regulatory environment, the continued rise in token prices and the inflow of institutional funds. However, he believes that it will be difficult for financing levels to return to the peak of 2021-2022 in the short term, reflecting VCs' cautious attitude to avoid repeating the same mistakes.

Dragonfly will continue to support areas with proven market demand such as DeFi, CeFi, stablecoins/payments, and focus on scaling platforms. Hadick said that although emerging areas such as encrypted AI and decentralized physical infrastructure networks (DePIN) have received attention, they are still in the "experimental stage."

He expects that investment in areas such as security, tokenization and interoperability may decrease, and market attention will shift to emerging tracks. In addition, decentralized social media may face development challenges due to lack of scalability and market fit.