The latest $4.5 billion fund, known as "Crypto Fund 4," launched in May and dedicated $1.5 billion to seed investments and $3 billion to venture investments. The firm is a titan in Silicon Valley, having raised a total of $7.6 billion for the sector after launching its first crypto fund four years ago. It has most recently backed crypto startups which include Aztec, Mysten Labs and Yuga Labs.

It's also known for big bets on crypto startups such as Anchorage Digital, Sky Mavis and Coinbase. "Our venture funds have a minimum of 10-year lifespan, which means if you decide you want to invest in our fund,  you make a commitment to us with money, and you're locked up for at least 10 years — and honestly it's usually 15 years and we extend it," Dixon said on the podcast. He also drew a distinction with crypto hedge funds, which he said don't have the same flexibility to extend deployment.