The Crypto Tape – The State of Crypto Venture with Rob Hadick

Rob Hadick, General Partner at Dragonfly, joins Frank Chaparro to dissect why 2025 was one of the most value-destructive years in crypto history despite all the regulatory wins. They discuss the "why token?" era, the death of the middle in crypto VC, and how traditional investors are returning to the space with more discipline.This conversation provides a blunt analysis of crypto’s current standing within the overall market. This inflection point is a new challenge for founders and investors alike to navigate.