The two groups submitted a joint proposal to Commissioner Hester Peirce for a safe harbor that would create a rebuttable presumption that decentralized exchange protocols and their front-ends are not exchanges under the Exchange Act. a16z filed a second letter the same day asking the SEC to build a registration regime for centralized crypto trading platforms modeled on the 1998 alternative trading system rules. Both letters are dated Sept. 14, three days before the SEC issued its Innovation Exemption for tokenized stock venues.

Six banking trade groups are still pressing senators to tighten the bill's prohibition on interest-like rewards for holding stablecoins, a payment Jennings says will continue under GENIUS if CLARITY dies.

a16z crypto's Crypto Fund 5 was announced just a day after Haun Ventures revealed its $1 billion fund focused on crypto and the agentic economy.

The venture capital giant highlights prediction markets, zk-SNARKS, and ‘staked media’ as themes to watch.

A new report from the venture firm shows that crypto adoption has surged among consumers, institutions, and stablecoins in 2025.

The Ethereum restaking protocol is expanding its development footprint with EigenCloud, designed to provide trust and verifiability to applications both on-chain and off-chain.

The leading VC’s head of policy and general counsel says protocol foundations now cause more problems than they solve.

The digital asset industry seeks clarity from the Securities and Exchange Commission’s new Crypto Task Force on key issues like airdrops, ETFs and crypto securities.

The lawsuit contests new rules that classify DeFi platforms as brokers and urges for clearer policies to protect the sector's growth.

The rise of AI agents, new forms of decentralized organization, and the tokenization of new asset classes are among the narratives a16z staffers are watching for in 2025.