The only constant in crypto is change- as reflected in this year's 2025 Founder Survey Results. Distribution has unseated finding PMF as the biggest challenge! >100 founders representing $48B in mkt cap and $4.2B in funding shared their thoughts

Introducing LI.​FI Intents. Infrastructure for apps, wallets, and neobanks to: • Enable stablecoin payments • Access real-world assets • Tap into compliant onchain liquidity Built for enterprises bringing financial products onchain.

We are proud to be backing the Interstate team! They are exceptionally fast thinkers and operators. We could not be more excited.

MASSIVE: 🇺🇸 Treasury Secretary Scott Bessent says "We are removing all regulatory obstacles for crypto."

As a response to socialism, Miami will replace NYC as the finance capital and Austin will replace SF as the tech capital.

2025: Best in Yield. 2026: The standard-bearer for Onchain Asset Management. Thank you @therollupco for the recognition! $500M to $5B was just the start, @maplefinance is combining institutional-grade yield with DeFi's transparency and composability

Likely the most important piece of research we publish - the 4th Annual BCVC Founder Survey!

We hosted a fireside at BCVC Summit with former CFTC Chair J. Christopher “Crypto Dad” Giancarlo (@giancarloMKTS) on prediction markets, the digital dollar, and the future of regulation. Some of the takeaways 👇

Being a startup CEO is hard. Being a crypto startup CEO is a different level entirely. For years, I wanted to host a panel of “CEO survivors”—founders who made it through multiple market cycles and kept building. I finally got to do that this year at the BCVC Founder Summit. One of the most honest conversations of the day was: BUIDL TO LAST: Designing Companies That Outlive Cycles Panelists (aka: the winners): - Michael Shaulov (@mikeshaulov) — CEO, Fireblocks (@FireblocksHQ) - Anton Katz (@KatzAnton) — CEO & Founder, Talos (@talostrading) - Robert Leshner (@rleshner) — CEO & Co-founder, Superstate (@SuperstateInc) - Jonathan Levin (@jony_levin) — CEO & Co-founder, Chainalysis (@chainalysis) - Sandeep Nailwal (@sandeepnailwal) — Co-founder & CEO, Polygon (@0xPolygon) 🧵 Watch the recording + my key takeaways below ⬇️ Merry Christmas!

🚨 @aave is having a full blown civil war And it might be the biggest governance fight defi has ever seen. Heres a clean breakdown 👇 Aave has two sides: – Aave labs → a centralised entity founded by stani – Aave dao → token holders who govern the protocol Now heres what happening, Dec 4, 2025: Aave labs announces a partnership with @CoWSwap to improve swap pricing + mev protection on the aave interface. Dec 11, 2025: A popular delegate, @DeFi_EzR3aL drops onchain analysis stating that swap fees from the new cow swap contract are being routed to a private wallet controlled by aave labs. Not the dao. Translation: DAO revenue just got quietly cut off. Dec 12, 2025: Marc zeller (largest delegate, aave chan initiative) calls it stealth privatization. Claims ~$10m per year that should go to the dao is gone. Dec 16, 2025: Things go nuclear ☢️ A. Proposal called “poison pill” by Tulip King. The demands: – Seize all aave ip, code, and brand – Force aave labs to become a dao owned subsidiary – Claw back all past revenue earned using the aave brand B. Then comes proposal #2 — “brand seizure” by former cto of aave labs @eboadom, – Move trademarks, domains, socials to the dao immediately. Logic: If dao pays for dev + marketing then dao should own the brand, domains, socials. Aave Labs / Stani’s defense: – This (cowswap thing) was never a fee switch. – Frontend revenue was a surplus labs donated voluntarily. – Aave labs is a private company. – DAO owns the contracts, not the website. – Labs pays for hosting, security, and frontend engineers. Now the plot twist, amid all this chaos, Aave labs opens a snapshot vote on dec 23👇 Proposal: Give aave token (aave dao) holders explicit control over brand assets, domains, socials, naming rights, github, npm, everything. (baed on @eboadom's proposal) Except… The author of the proposal @eboadom says he never approved it. He claims it was rushed to vote with his name on it while discussion was still active. Calls it “disgraceful.” Urges people to abstain. @Marczeller says the proposal was rushed during holidays, with fresh delegations gaining voting power. Zoom out. This isn’t about cow swap. This isn’t about one wallet. This is the unresolved question of defi: Who actually owns a protocol? The code? The frontend? Or the brand? Aave is about to set a precedent. And everyone is watching.

Founders often ask us if it's better to build vertically or horizontally. We turned this around and asked leading founders in the decentralized AI space to have this debate. Hear @benfielding of @gensynai and @sreeramkannan of @eigencloud share their thoughts on which is the "right" way and why!

🥞🧡🏹 @maplefinance now available on @RobinhoodApp US

Today we’re announcing a $29M Series A extension for LI.F​I, funded by Multicoin and CoinFund. This brings our total capital raised to ~$52M. More aggressive and committed than ever to build the universal liquidity market for digital assets. Time to scale. fortune.com/2025/12/11/exclu…

At BCVC Summit, we ran a debate on one of the spiciest market-structure ideas of the year. Watch the replay and vote on who made the better argument. For founders + builders in crypto, here are the key takeaways 🧵

At the BCVC Founder Summit, we don’t do safe conversations. We bring in people willing to question — or defend — the status quo. This year’s debate: stablecoin yield. NOT To Yield: Cassandra Lentchner (ex-@BitGo) & Erica Khalili (@Lead_Bank) To Yield: Will Peck (@wbpeck) & Aadil Mamujee (@amamujee) Thanks to moderator Chris Crawford (@FenwickWest) for framing the big tension: The Genius Act bans interest-bearing payment stables… but demand (and “rewards” workarounds) isn’t going anywhere. Watch the debate and vote on who made the stronger case.👇 Key takeaways below.