Dragonfly managing partner says strict regulation does not help crypto scale

Dragonfly Managing Partner Haseeb posted on X to refute a16z partner Chris Dixon, pointing out that most non-financial crypto use cases have not been validated by market demand, and this is not due to regulation or industry scandals. He stated that financial crypto use cases have achieved large-scale adoption even under strict regulation and frequent scams, including Bitcoin, stablecoins, DeFi, and other financial applications, while Web3 consumer scenarios have not formed market demand. Haseeb believes that the crypto industry does not need to rely on narratives such as “disrupting gaming and media”; the innovation potential in the financial sector alone is sufficient to support long-term growth.