The Milk Road Show

a16z Report Explains Why Crypto Is Ready for Its Breakout Year w/ Daren Matsuoka & Robert Hackett

6 snips
Oct 22, 2025
Daren Matsuoka, head of data and fund strategy at a16z Crypto, and Robert Hackett, head of special projects at the same firm, delve into the 2025 State of Crypto report. They discuss how 2025 marks a pivotal year for crypto, fueled by institutional adoption and advanced infrastructure. They explore the ongoing popularity of stablecoins and their impact on payment networks. The conversation reveals the potential of decentralized finance and the integration of AI within crypto, highlighting the vast opportunities awaiting in this evolving landscape.
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INSIGHT

Crypto Nearing Adulthood

  • Crypto in 2025 feels like a 17-year-old: nearing adulthood with increased legitimacy.
  • Institutional adoption, regulation, and mature infrastructure signal a mainstream inflection point.
INSIGHT

Numbers And Brands Align

  • Market metrics grew to staggering scales this year, with volumes in the tens of billions and stablecoins in the trillions.
  • Big financial brands are actively building across crypto, marking a different, deeper institutional wave.
INSIGHT

Price–Developer–User Feedback Loop

  • Crypto follows cycles where price attracts developers, who build products that onboard users and restart the loop.
  • 2025 diverged after 2022's shakeouts, with stablecoins and regulatory shifts catalyzing renewed developer interest.
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