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BTC $78,175.70 +4.67%
ETH $2,454.94 +5.13%
BNB $644.99 +2.88%
XRP $1.50 +4.43%
SOL $90.31 +4.33%
TRX $0.3254 -0.31%
DOGE $0.1013 +3.20%
ADA $0.2649 +4.10%
BCH $460.05 +4.02%
LINK $9.80 +3.98%
HYPE $45.39 +1.86%
AAVE $117.17 +6.96%
SUI $1.02 +4.31%
XLM $0.1744 +5.62%
ZEC $343.56 +1.97%

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first_img Fortune Magazine: Paradigm, a16z crypto and other crypto VC asset management scales have significantly shrunk

According to Fortune magazine, in the context of a downturn in the crypto market in 2025 and the distribution of profits to investors, the portfolio values of crypto venture capital firms such as Paradigm and a16z crypto have significantly shrunk.According to filings with the U.S. Securities and Exchange Commission (SEC), the total assets under management (AUM) of four crypto funds under a16z crypto dropped nearly 40% from 2024 to 2025, falling to $9.5 billion. Part of the reason is that the firm began returning capital to investors from earlier funds, and the timing of the returns coincided with the market peak in 2025, with a net DPI (distributions to paid-in capital) of 5.4 for its first crypto fund.Multicoin Capital's AUM has more than halved, dropping to about $2.7 billion. Paradigm's holdings also slightly decreased by about 6%. Meanwhile, the total size of a16z crypto's parent company, Andreessen Horowitz, has exceeded $100 billion.The report points out that the shrinkage in assets under management reflects the decline in portfolio value due to the market downturn, and is also a sign of normal exits by VCs and the return of funds to limited partners (LPs). Some firms, such as Haun Ventures, have seen their AUM grow by over 30%, reaching around $2.5 billion.Currently, Paradigm is seeking to raise a new fund of $1.5 billion, and a16z crypto is also raising up to $2 billion for its fifth fund.

Zcash core development team ZODL releases strategic roadmap: focusing on post-quantum, security scalability, and user experience

The Zcash core development team Zcash Open Development Lab (ZODL) founder Josh Swihart released the latest progress on Zcash, proposing a strategic direction centered on "post-quantum security, scalability, and user experience," and using the Artemis II lunar mission as a metaphor to emphasize achieving seemingly impossible goals through technological breakthroughs. The ZODL team stated that Zcash is entering the "Zcash IV" phase, which will build infrastructure similar to a "lunar base" to support the protocol and application security scaling to billions of users, while promoting the vision of privacy transactions without large-scale financial surveillance.On the product and technology front, ZODL continues to iterate, with its 3.3.x version now launched on iOS and Android, adding hardware wallet connection management, SDK upgrades, and multiple experience optimizations, while advancing key developments such as Keystone wallet functionality and address system upgrades (ZIP 316, UIVK/UFVK). Meanwhile, the Zcash core team has fixed multiple system issues and is advancing the development of the Zallet alpha version, while strengthening unified address standards and wallet interaction experiences, laying the groundwork for future scalability and performance improvements.In addition, ZODL disclosed that its application data continues to grow and participated in a stablecoin privacy summit to strengthen industry collaboration. However, due to upgrades in regulation and network restrictions, ZODL has temporarily removed its app from the Russian app store. The team emphasized that privacy is not an option but a fundamental need in the digital age, and will continue to accelerate delivery pace to promote the popularization of ZEC and ecological development in the future.

"1011 Insider Whale" Agent: The U.S. blockade of the Strait of Hormuz may not end the conflict, but rather escalate the risks

Agent Garrett Jin from "1011 Insider Whale" pointed out in an analysis that the U.S. announcement to implement a maritime blockade in the Strait of Hormuz is one of the "most tactically wise" moves in the current conflict, but it is unlikely to achieve the goal of ending the war. This strategy has two short-term advantages: first, it directly weakens Iran's crude oil export revenue by about 1.7 million barrels per day; second, compared to occupying key facilities (such as Khark Island), the cost of a maritime blockade is lower and the risks are more controllable.However, the effectiveness of this strategy faces multiple challenges. For example, the current blockade mainly targets Iranian ports rather than completely closing the strait, and third-party transshipment routes still exist. Additionally, it undermines the U.S.'s long-term international image of maintaining "freedom of navigation," which could have far-reaching effects on global maritime order.Garrett Jin concluded that while the blockade measures may reshape the initiative in the short term, they are unlikely to force Iran to make concessions and may instead compress diplomatic space and prolong the conflict cycle. The market has accounted for the impact of the blockade itself, but has not fully priced in the potential paths for escalation that may follow.
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