A16z Crypto Raised $2.2 Billion for Fund 5. Here's How They Plan to Deploy It

From AI agents as economic actors to quantum threats and prediction market regulation, Ali Yahya of a16z lays out the investment thesis behind a16z crypto's fifth fund. ======================================================== Thank you to our sponsor! Coinbase One 20% off first year of annual plan + $50 Bitcoin bonus. Offer valid until May 31. coinbase.com/unchained ======================================================== a16z crypto just closed its fifth crypto fund at $2.2 billion — smaller than its previous fund, but the firm says that's deliberate. General Partner Ali Yahya argues we are entering a different phase of crypto's development: one where infrastructure is ready, regulatory clarity is arriving, and the competition for real users has begun in earnest. Two themes sit at the center of a16z's thesis — the collision of crypto and FinTech, and the emergence of AI agents as economic actors. But Yahya's most striking claim may be about blockchains themselves: that performance is no longer a moat, privacy is. And that the chains which get privacy right will accrue stronger network effects than anything the industry has built before. What does a world of privacy-dominant blockchains do to DeFi composability, to security, to the ability to track hackers? And where does the quantum threat actually stand? Host: ⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠⁠⁠⁠⁠⁠⁠⁠Ali Yahya, General Partner, a16z crypto Timestamps 🚀 0:00 Introduction — Why a16z crypto raised its $2.2B Fund 5 now 💰 2:50 The two big investment themes: fintech x crypto and AI x crypto 🔒 9:25 Why Ali believes privacy is the most important moat in crypto ⛓️ 14:31 How the three privacy approaches compare: centralized sequencers, TEEs, zk tech 🔐 18:32 What happens to security in a world of privacy chains? 🧩 28:48 When privacy chains dominate, can we still have DeFi money Legos? 🤖 34:12 Ali's AI background and how agents will enter the financial system 🎨 43:55 What AI x crypto means for entrepreneurs and creative types ⚠️ 49:13 The quantum threat — why Ali says we have 10-15 years 📊 51:58 Prediction markets and insider trading — where the line is Learn more about your ad choices. Visit megaphone.fm/adchoices