Finance
What to know:
- In a shocking twist of fate (or maybe just good luck), Dragonfly Capital has managed to close a $650 million fourth fund. Yes, you heard that right-one of the largest crypto venture capital raises even while the market plays hide-and-seek with its sanity.
- Managing partner Haseeb Qureshi seems to be the eternal optimist, stating they’re doubling down on financial use cases like stablecoins and decentralized finance, while boldly declaring that “non-financial crypto has failed.” Ouch! That’s one way to break up with your cryptocurrency!
- The raise comes just as federal prosecutors are considering whether to throw some shade on certain Dragonfly employees for their 2020 Tornado Cash investment. Talk about a dramatic plot twist! Meanwhile, the firm is expanding its U.S. presence like it’s going out of style.
So, Dragonfly Capital just pulled off the financial equivalent of winning the lottery during a recession with their new $650 million fund. Managing Partner Haseeb Qureshi shared that this is a classic case of “we’re not dead yet!” Well, at least not emotionally.
“It’s a weird time to celebrate,” Qureshi tweeted, which is like saying it’s a weird time to eat cake when you’re on a diet. But hey, they’ve historically raised capital during downturns, so maybe this is the “what doesn’t kill us makes us stronger” moment for them.
They initially aimed for $500 million, but why stop there? It’s like ordering a small pizza and then devouring an extra-large instead. They’re not naming any of the projects they’ll target yet, which adds an element of mystery, like a reality show waiting to reveal its contestants.
‘Biggest bet yet’
Meanwhile, as token prices take a nosedive, Qureshi is channeling his inner motivational speaker, claiming crypto’s financial applications are “exploding.” Sure, let’s ignore the fact that Bitcoin lost almost half its value since its peak. But who needs facts when you can have optimism?
He mentioned that stablecoins are eating the world, which sounds like a dystopian sci-fi movie where coins take over the planet. And let’s not forget, while everyone’s focusing on non-financial crypto fluff, Dragonfly is all about that serious money-making infrastructure. Think of it as the “grown-up” version of crypto.
Qureshi also pointed out that other VCs at Consensus Hong Kong 2026 were cautiously optimistic. It’s like being at a party where everyone agrees to have fun, but only if they can hedge against the potential of a boring evening.
In summary, Qureshi is betting big on crypto’s future, claiming it’s just realigning itself. So, grab your popcorn folks, because this rollercoaster is far from over! Fortune was first to spill the beans on Dragonfly’s latest financial escapade.
Read More
- Mewgenics Tink Guide (All Upgrades and Rewards)
- Top 8 UFC 5 Perks Every Fighter Should Use
- One Piece Chapter 1174 Preview: Luffy And Loki Vs Imu
- How to Play REANIMAL Co-Op With Friend’s Pass (Local & Online Crossplay)
- How to Discover the Identity of the Royal Robber in The Sims 4
- How to Unlock the Mines in Cookie Run: Kingdom
- Sega Declares $200 Million Write-Off
- Full Mewgenics Soundtrack (Complete Songs List)
- Starsand Island: Treasure Chest Map
- All 100 Substory Locations in Yakuza 0 Director’s Cut
2026-02-18 00:15