Damn it, even a16z is ready to take off the Crypto sign! One of the world's most influential cryptocurrency venture capitalists, a16z, plans to rename itself a16z Frontier and expand its investment scope to cutting-edge technologies such as AI. Even early core partner Ali Yahya is preparing to leave. Who would have dared to think about this a few years ago? In 2022, a16z raised $4.5 billion in cryptocurrency funds in one go, and at that time, Crypto was one of the sexiest stories of Silicon Valley capital, Web3、Token、 Decentralization, any concept can attract a large amount of capital. By 2026, the fifth fund will shrink to $2.2 billion, and now even the name Crypto is being removed. But I don't think a16z's belief in Crypto has collapsed. They are still investing in encryption infrastructure such as Arc, Canton, and Morpho this year and have no plans to withdraw. The problem is that AI is too powerful, to the point where even Crypto, which used to have a complete set of capital narratives, exclusive funds, and top talent, has to compete for resources again. Even veteran cryptocurrency VCs such as Paradigm and Haun Ventures have turned their attention to fields beyond encryption to varying degrees. Previously, Crypto was seen as the future in the eyes of capital, and people were willing to spend billions of dollars betting on a decentralized world ten years from now. Now AI has brought the future directly to the present, with computing power, models Agent、 Robots are competing for massive capital in every direction, and clear commercial revenue can already be seen in many fields. This makes Crypto quite awkward: you're still explaining to investors how tokens will capture value in the future, while neighboring AI companies have already started financing customer orders and revenue growth. However, I believe that both AI and Crypto are the future, and both are indispensable. They will be deeply bound and integrated in the future, and we will wait and see.