HashKey Capital CEO Deng Chao said crypto projects will attract more venture capital funding in 2025. VC firms are looking at stablecoin offerings, real-world asset (RWA) tokenization, artificial intelligence and infrastructure. Rising valuations of digital assets in 2024 and the benefits of Donald Trump's re-election in the US will attract more venture capital into crypto projects, Chao said. "These macro tailwinds will drive more venture capital into 2025 as we move into a supportive macro environment driven by US stimulus and formalisation of the crypto regulatory framework," Chao said. Despite the optimistic outlook, Deng Chao warned that macro risks, including geopolitical tensions or increased deficit spending, could exacerbate price volatility and uncertainty in the new year.