What Crypto VCs Want Now | Aryan Sheikhalian
The Defiant10 Loka 2025

What Crypto VCs Want Now | Aryan Sheikhalian

Crypto’s next chapter isn’t a shinier coin—it’s invisible rails. In this episode, we sit down with Aryan Sheikhalian, Research Lead at CMT Digital, to unpack the shift from “crypto as an asset” to crypto as infrastructure: 24/7 markets, instant clearing and settlement, and new structured products that couldn’t exist before.

We talk about tokenized equities (wrappers vs. native tokenization and why dividends/governance matter), how identity layers and ZK proofs unlock mainstream distribution through banks and fintechs, and where regulation is pushing builders toward partnerships and licensed rails.


Chapters

00:00 Hook: crypto as infrastructure, not asset

01:15 Guest intro and research focus

02:06 Incentives, psychology, and mechanism design

04:03 ICO lessons, maturity, and red flags

07:09 CMT Digital’s thesis and “strictly better”

10:27 Tokenized equities drivers and demand

13:40 Wrappers vs native: dividends, governance

16:06 Fintech rails, velocity, cost efficiency

18:26 Banks, distribution, and competitive incentives

20:29 New assets: GPUs, data, energy tokens

23:23 Identity layers and ZK proofs for scale

25:55 State of crypto VC and fund trends

27:51 Overlooked sectors: DePIN and decentralized data

31:26 Prediction markets and resolution design

34:18 Regulation, licenses, and partnerships

39:45 Market outlook: TVL, stables, volatility

42:45 Founder advice: conviction and user focus

Jaksot(326)

Solana’s Rise as a Treasury Powerhouse: DeFi Development Corp’s Bold Strategy

Solana’s Rise as a Treasury Powerhouse: DeFi Development Corp’s Bold Strategy

In this episode of The Defiant Podcast, we sit down with Joseph Onorati, CEO of DeFi Development Corp, the second-largest Solana treasury company. Joseph shares the journey of transforming DeFi Develo...

9 Syys 20251h 9min

Bitcoin Mining’s Golden Age or Final Battle? Insights From Fakhul Miah

Bitcoin Mining’s Golden Age or Final Battle? Insights From Fakhul Miah

In this episode of The Defiant Podcast, we sit down with Fakhul Miah, Managing Director of GoMining Institutional and former Morgan Stanley executive, to explore the rapidly evolving world of Bitcoin ...

5 Syys 202545min

The Future of Finance is Tokenized: Ondo’s Vision for RWAs

The Future of Finance is Tokenized: Ondo’s Vision for RWAs

Ondo Finance is at the forefront of the real-world asset (RWA) revolution, bringing traditional financial products like U.S. treasuries, stocks, and ETFs onto blockchain rails. In this episode of the ...

2 Syys 202546min

Bridging the Gaps: Prabal Banerjee on Scalability, Interoperability, and the Future of DeFi

Bridging the Gaps: Prabal Banerjee on Scalability, Interoperability, and the Future of DeFi

What if blockchain technology could be as seamless as swiping a credit card or streaming your favorite show? In this episode of The Defiant Podcast, we sit down with Prabal Banerjee, co-founder of Ava...

29 Elo 202545min

The $10 Trillion Question: Crypto's Biggest Cycle Yet with Ellio Trades

The $10 Trillion Question: Crypto's Biggest Cycle Yet with Ellio Trades

In this episode of The Defiant Podcast, we sit down with Ellio Trades, Co-Founder of BlackHole, the fastest-growing decentralized exchange on Avalanche. Ellio shares his insights on the current state ...

25 Elo 202545min

Interoperability and Innovation: How Decentraland is Shaping the Future of Virtual Worlds | Kim Currier

Interoperability and Innovation: How Decentraland is Shaping the Future of Virtual Worlds | Kim Currier

Step into the evolving world of virtual environments, where Decentraland is at the forefront of innovation. In this episode, we explore how interoperability is transforming the metaverse, enabling sea...

22 Elo 202549min

Filecoin’s Role in Decentralized AI and Data Sovereignty | Marta Belcher

Filecoin’s Role in Decentralized AI and Data Sovereignty | Marta Belcher

In this episode, we’re joined by Marta Belcher, President and Chair of the Filecoin Foundation, to dive deep into the transformative potential of decentralized storage and its role in shaping the futu...

18 Elo 202545min

Intention, Privacy, and Trust: Adrian Brink’s Vision for Resilient Communities

Intention, Privacy, and Trust: Adrian Brink’s Vision for Resilient Communities

In this episode of The Defiant Podcast, we sit down with Adrian Brink, Co-Founder of Anoma and Namada, to explore the intersection of privacy, sovereignty, and resilience in Web3. Adrian shares his jo...

15 Elo 202549min