Dragonfly Managing Partner Claims Strong Regulation Helpless in Scaling Up Cryptocurrency

Dragonfly Managing Partner Haseeb refuted a16z Partner Chris Dixon in an article on X platform, pointing out that most non-financial encryption use cases have not passed market demand verification and are not affected by regulatory or industry scandals. He stated that financial encryption use cases have achieved large-scale implementation despite strong regulation and frequent fraud, including financial attribute applications such as Bitcoin, stablecoins, DeFi, etc., while Web3 consumer scenarios have not yet formed market demand. Haseeb believes that the cryptocurrency industry does not need to rely on narratives such as "disrupting games and media", and that the innovation potential in the financial sector alone can support long-term growth.