自人工智能取代加密货币成为硅谷的新宠后，关于从业者"跳船"转行的调侃便不绝于耳。然而，知名风投公司安德森·霍洛维茨（Andreessen Horowitz，常简称为a16z）的最新数据显示，实际情况更为复杂。
a16z于周三发布的年度《加密行业现状报告》指出，自2022年11月ChatGPT推出以来，约有1,000名从业者离开加密行业，投身AI初创公司。但在同一时期，区块链公司也从其他行业（包括传统金融和科技领域）吸纳了同等数量的人才。
a16z加密投资团队合伙人达伦·松冈（Daren Matsuoka）在接受《财富》杂志采访时表示：“很多人忘了，FTX的崩盘与ChatGPT的发布相隔不到一个月。那段时间，加密行业前景黯淡，而AI领域则充满希望。”
如今，加密行业的前景与2022年底时已截然不同。AI领域投资依然屡创新高，但加密市场也已强势复苏。流通中加密货币的总市值已突破4万亿美元，比特币价格也在今年创下历史新高。行业的复苏恰逢特朗普政府积极接纳该领域，推动监管解冻，并在国会支持立法，为稳定币和交易所建立监管框架。摩根大通（JPMorgan）、贝莱德（BlackRock）和富达（Fidelity）等顶级金融机构也都在扩大其加密业务布局。
a16z在报告中发现，进入加密行业的从业者多来自传统金融、咨询背景或新兴的金融科技公司，这进一步表明传统金融与加密领域之间的界限正日益模糊。
松冈补充道：“我们四年前开始发布这份报告，那时加密行业还处于'青春期'。但现在，全世界都在认真对待加密技术……这个行业已经成熟了许多。”
加密投资的中流砥柱
今年的加密行业年度报告是a16z发布的第四份同类报告。该公司于2018年分拆出其加密投资部门。此后，这个名为a16z crypto的实体在区块链早期的繁荣阶段募集了巨额资金，包括2021年的一支22亿美元基金和2022年的一支45亿美元基金。在克里斯·迪克森（Chris Dixon）的领导下，a16z crypto已投资了世界币（Worldcoin）、Uniswap和Phantom等顶级初创公司。
尽管迅猛发展的AI产业占据着科技头条，但a16z crypto的新报告显示，加密用户对隐私的需求正变得愈发显著。该机构指出，2025年与加密隐私相关的谷歌（Google）搜索量激增。
a16z crypto的首席技术官埃迪·拉扎林（Eddy Lazzarin）在接受《财富》杂志采访时表示：“业内常有人说用户并不真正关心隐私。我个人不认同这种说法。我认为人们要么已经关心，要么未来总会开始关心。”（*）
译者：刘进龙
审校：汪皓
自人工智能取代加密货币成为硅谷的新宠后，关于从业者"跳船"转行的调侃便不绝于耳。然而，知名风投公司安德森·霍洛维茨（Andreessen Horowitz，常简称为a16z）的最新数据显示，实际情况更为复杂。
a16z于周三发布的年度《加密行业现状报告》指出，自2022年11月ChatGPT推出以来，约有1,000名从业者离开加密行业，投身AI初创公司。但在同一时期，区块链公司也从其他行业（包括传统金融和科技领域）吸纳了同等数量的人才。
a16z加密投资团队合伙人达伦·松冈（Daren Matsuoka）在接受《财富》杂志采访时表示：“很多人忘了，FTX的崩盘与ChatGPT的发布相隔不到一个月。那段时间，加密行业前景黯淡，而AI领域则充满希望。”
如今，加密行业的前景与2022年底时已截然不同。AI领域投资依然屡创新高，但加密市场也已强势复苏。流通中加密货币的总市值已突破4万亿美元，比特币价格也在今年创下历史新高。行业的复苏恰逢特朗普政府积极接纳该领域，推动监管解冻，并在国会支持立法，为稳定币和交易所建立监管框架。摩根大通（JPMorgan）、贝莱德（BlackRock）和富达（Fidelity）等顶级金融机构也都在扩大其加密业务布局。
a16z在报告中发现，进入加密行业的从业者多来自传统金融、咨询背景或新兴的金融科技公司，这进一步表明传统金融与加密领域之间的界限正日益模糊。
松冈补充道：“我们四年前开始发布这份报告，那时加密行业还处于'青春期'。但现在，全世界都在认真对待加密技术……这个行业已经成熟了许多。”
加密投资的中流砥柱
今年的加密行业年度报告是a16z发布的第四份同类报告。该公司于2018年分拆出其加密投资部门。此后，这个名为a16z crypto的实体在区块链早期的繁荣阶段募集了巨额资金，包括2021年的一支22亿美元基金和2022年的一支45亿美元基金。在克里斯·迪克森（Chris Dixon）的领导下，a16z crypto已投资了世界币（Worldcoin）、Uniswap和Phantom等顶级初创公司。
尽管迅猛发展的AI产业占据着科技头条，但a16z crypto的新报告显示，加密用户对隐私的需求正变得愈发显著。该机构指出，2025年与加密隐私相关的谷歌（Google）搜索量激增。
a16z crypto的首席技术官埃迪·拉扎林（Eddy Lazzarin）在接受《财富》杂志采访时表示：“业内常有人说用户并不真正关心隐私。我个人不认同这种说法。我认为人们要么已经关心，要么未来总会开始关心。”（*）
译者：刘进龙
审校：汪皓
Ever since AI supplanted crypto as the shiny new toy in Silicon Valley, there's been no shortage of jokes about workers jumping ship. New data from prominent venture capital firm Andreessen Horowitz (commonly referred to as a16z) shows that the truth is more complicated.
In its annual state of crypto report released on Wednesday, a16z found that since the launch of ChatGPT in November 2022, around 1,000 workers left the crypto industry for AI startups. But, in that same time period, blockchain companies gained the same number of employees from other industries, including traditional finance and tech.
"People forget that the collapse of FTX and the launch of ChatGPT were less than a month apart," said Daren Matsuoka, a partner on the crypto investment team at a16z, in an interview with Fortune. "There was a period of time in the crypto industry where it was looking very negative for crypto and very promising for AI."
Today, the outlook for crypto is markedly different than it was in late 2022. AI continues to drive record investment, but crypto has mounted a comeback. The market cap of all cryptocurrencies in circulation has surpassed $4 trillion, and Bitcoin's value hit new all-time highs this year. The resurgence comes as the Trump administration embraced the sector, pushing for a regulatory thaw and championing legislation in Congress to establish oversight for stablecoins and exchanges. Top financial institutions like JPMorgan, BlackRock, and Fidelity are all expanding their crypto offerings.
In its report, a16z found that workers coming into the crypto industry are tending to join from a traditional finance and consulting background, or from emerging fintech companies, another sign that the line is blurring between traditional finance and crypto.
"We started doing this report four years ago, when crypto was in its teenage years," Matsuoka added. "But now the world takes crypto seriously... the industry just got a lot more mature."
Crypto investing powerhouse
This year's crypto annual crypto report is the fourth of its kind to be published by a16z, which spun out its crypto arm in 2018. Following the spin-off, the entity known as a16z crypto raised staggering funds during an earlier boom era for blockchain, including a $2.2 billion vehicle in 2021 and a $4.5 billion fund in 2022. Led by Chris Dixon, a16z crypto has invested in top startups such as Worldcoin, Uniswap, and Phantom.
While the soaring AI industry has dominated tech headlines, a16z crypto's new report shows that crypto users' desire for privacy is becoming more pronounced. The firm cites Google searches related to crypto privacy surging in 2025.
"It's a common trope in the industry for people to say users don't really care about privacy," said Eddy Lazzarin, a16z crypto's chief technology officer, in an interview with Fortune. "I personally don't think that's true. I think that people either do or will care."