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From stablecoins to incumbents, VCs map crypto value in 2025

Venture partners such as Pantera, Hash3 and Variant look back on a year of regulatory shifts and uneven markets, outlining crypto’s biggest winners and losers in 2025.

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From stablecoins to incumbents, VCs map crypto value in 2025

Venture partners such as Pantera, Hash3 and Variant look back on a year of regulatory shifts and uneven markets, outlining crypto’s biggest winners and losers in 2025.

Why this matters

This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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