Arnav Pagidyala

Does this impact crypto in any way?

I mean, doesn't that filter down if you get more five person sub five person unicorns, right?

What impact does that have on say fundraising?

I mean, like how much, how much in funding do you actually need to raise in order to achieve that if you have just a five person team?

One theme I think we have going to 2026, and this is maybe a marker of a bear market, is this idea that crypto is dead.

What can you say about that?

Or what do you think will be the life signs of crypto this year?

Is there a new era?

I mean, has crypto ever seen anything like that?

There's a bit more behind the scenes, a bit more like mainstream, not front and center, not maybe dominated by the Twitter conversation and the crypto natives, but more, I guess, suit coiner.

Is this a new era?

Arnav, this has been great.

Is there anything we didn't cover that you feel like needs to be communicated as you look towards 2026?

Well, what's interesting about that is if the whole financial stack does move on-chain, certainly everything that's on-chain will benefit.

Certainly it could be the case that centralized exchanges will lose power to some of the things that are more on-chain native.

However, what about TradFi?

Because it strikes me that maybe the centralized exchanges and the crypto-native on-chain sort of hybrid types of entities like the Coinbase, maybe the Robinhoods of the world, at the same time, they're losing some power to even more on-chain, even more crypto-native

applications and wallets and that sort of thing, they're also grabbing power away from traditional finance.

I mean, what does a Fidelity do in this world?

What does an E-Trade do in this world?