Dragonfly managing partner Haseeb posted on the X platform refuting a16z partner Chris Dixon. He stated: Most non-financial crypto use cases have not passed market demand verification and are not affected by regulation or industry scandals. If regulation and fraud were obstacles to the large-scale development of the crypto industry, then financial crypto use cases, which face stronger regulatory pressure and more frequent fraud, should also fail, but the opposite is true. Currently, almost all large-scale implemented crypto applications have financial attributes, including Bitcoin, stablecoins, programmable money, DeFi, prediction markets, NFTs, and RWA. In the past, a large amount of capital and talent explored Web3 consumer scenarios, but market demand did not materialize. In fact, the crypto industry does not need to rely on narratives such as "it will definitely disrupt gaming and media in the future"; the innovation potential in the financial sector alone is enough to support the industry's long-term growth.