Venice AI Reignites Crypto’s Token vs Equity Debate

Venice AI’s $65M Series A has brought one of crypto’s most important structural debates back into focus: how should tokens, equity, access, and value accrual fit together? In this clip from The Weekly, David Sencil and Graham Stone discuss Venice AI’s $1B valuation, Dragonfly’s role in the round, the VVV warrants, and why the deal sparked a wider conversation across crypto. The debate is not only about Venice AI. It is part of a much bigger question the industry has been working through for years: when a project has both a company structure and a token, what should the token represent? Access? Governance? Utility? Value accrual? Something new entirely? As crypto capital formation continues to evolve, the relationship between tokens and equity remains one of the most important u