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Vance Spencer

Cofounder, Framework Ventures

Search every verified Vance Spencer interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Vance Spencer, co-founder of Framework Ventures, has been a frequent commentator on the evolution of decentralized finance (DeFi) into what he calls "neo-finance." In early 2026, he described this as the convergence of financial technology, financial institutions, and decentralized technology, arguing that the old DeFi model is no longer sufficient. Spencer stated that the industry needs to move past "meme coining" and an "overfocus on decentralization" to focus on productive, fundamentals-driven growth. He has also discussed the potential for a "Magnificent 7" of crypto assets to emerge in 2026, and has predicted that upcoming regulatory clarity, such as the CLARITY Act, will be a key driver for the industry's future growth. Spencer has also shared specific investment theses on various protocols. He stated that Hyperliquid could earn $2-3 billion per year and has a path to trade substantially higher if it develops additional economic engines, such as listing stocks or bonds. He has also been a proponent of Sky (formerly MakerDAO), noting it generates nearly $300 million in profits per year. Spencer has expressed a bullish outlook on Ethereum, describing it as a "hedge to BTC" due to its technology tailwinds, and has predicted that the upcoming Fusaka upgrade will be a fundamental change to Ethereum's core economics.

Recent appearances

Notable quotes

“A lot of these programs will also require you to rep that you are a non‑security — if you're going to go for this, you actually have to demonstrate that you are not a security and so you can't be doing some fugazi decentralization for no reason.”

“DeFi doesn't hold that meaning anymore. It's no longer decentralization for decentralization's sake — consumers want a 'forgot password' button and they may never get sold on self‑custody.”

“It's not a nuclear winter. There's fundamentally things being driven — there's inflows from these ETFs, but we really do need to leave behind the speculative stuff and focus on productive, fundamentals-driven growth.”

“We really do need to leave behind the [expletive] — the meme coining, the NFT [expletive], the overfocus on decentralization. You don't need to disavow these things, but you just need to kind of move past those as the focal point of this industry because it's just not.”

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