Golden Finance reported that Pantera Capital partner Lauren Stephanian said that with the promotion of pro-encryption policies in the United States, encryption venture capital is expected to increase in 2025, and investors will have a more positive attitude towards capital deployment. Stephanian pointed out that the bull market will not last long, and it remains to be seen when it will start to slow down in 2025. Pantera will continue to invest broadly in the crypto and blockchain space, with a focus on cryptographic AI, decentralized physical infrastructure networks (DePIN), and new Layer 1 blockchains with stronger application layer capabilities.