CoinEx News: a16z crypto, the crypto arm of venture firm Andreessen Horowitz, said on June 23, 2026 that the industry has entered a "Show Me" era. Its point: vision, a whitepaper, a token, and team pedigree no longer earn trust on their own. With tighter regulation, a string of high-profile bad actors, and institutions like BlackRock and Fidelity moving in, projects are now expected to show hard data — real on-chain volume, active wallets, revenue, and how many users stick around.