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Dragonfly is a global investment firm focused on the digital asset, blockchain, and DeFi ecosystems. With a mission to support and invest in the most promising projects in the crypto space, Dragonfly combines deep industry knowledge, a diverse global network, and strategic insights to identify opportunities that drive innovation and long-term value. As an active participant in the Web3 landscape, Dragonfly partners with visionary teams and projects that are building the foundational infrastructure for the future of finance and technology. Through a multi-strategy investment approach, Dragonfly is committed to accelerating the growth and adoption of blockchain technology worldwide. Dragonfly consists of Dragonfly Ventures, Dragonfly Liquid, and Metastable.

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2026-06-11 09:19

Robbie Petersen, former Junior Partner at Dragonfly, announced he is joining a16z Crypto.

Robbie Petersen, former Junior Partner at Dragonfly, has announced he is joining a16z crypto as an Investment Partner. He stated that his core thesis on the crypto industry remains unchanged: if technological adoption continues trending toward greater efficiency, market forces will ultimately prove that blockchain is the most efficient technology for global collaboration.

2026-06-10 11:57

Robinhood’s May Event Contracts Reach 3.9 Billion, Annualized Revenue Approximately $470 Million

Dragonfly investor Omar posted on X platform, stating that Robinhood released data today showing May was the highest trading volume month in the history of its prediction market, with event contract trading volume reaching 3.9 billion contracts, up 22% month-over-month. Based on a fee of 1 cent per contract, the prediction market’s annualized revenue is approximately $470 million. Additionally, driven by the World Cup being held in the United States, the platform’s June trading volume is expected to hit a historic high.

Dragonfly Partner: Zcash Vulnerability Incident Overhyped by Market, Majority of Holders Unaffected

Haseeb, Managing Partner at Dragonfly, has addressed the recently patched Zcash vulnerability, stating that there are many misconceptions in the market regarding the incident. He pointed out that even if the vulnerability had been exploited before the fix, an attacker could only profit by forging ZEC within the shielded pool. For these tokens to enter mainstream trading platforms, they would first need to be converted from shielded addresses to transparent addresses. Since the supply of ZEC in transparent addresses is publicly verifiable, any abnormal transfers exceeding the maximum supply would be detected and blocked. Therefore, the vast majority of investors and exchange users holding transparent ZEC would not be affected.Haseeb stated that the Zcash team plans to introduce a new “Turnstile” mechanism and a new shielded pool in future upgrades to verify that the current shielded pool does not suffer from inflation issues. He also noted that formally verified cryptographic systems can reduce implementation errors at the design level. Finally, Haseeb disclosed that Dragonfly still holds ZEC, and he is personally an investor in ZODL.

Suspected Dragonfly address transferred 137 million SKY tokens to Coinbase; its holdings’ value has shrunk by over half compared to five years ago

On-chain data shows that an address疑似 belonging to Dragonfly transferred approximately $9.05 million worth of SKY tokens to Coinbase. The related token was formerly MKR, and its holding value has shrunk by over 50% since withdrawal.

Coinbase

Sky

2026-05-21 09:09

predict.fun: The probability of "Variational's FDV market cap exceeding $500 million one day after opening" has risen to 57%, up 12% in 24H

Monitoring by Odaily Seer Prophet Channel shows that on predict.fun, the probability of "Variational's FDV market cap exceeding $500 million one day after opening" has risen to 57%, up 12% in 24H. Additionally, the probability of "Variational's FDV market cap exceeding $800 million one day after opening" has risen to 36%.Last night, Variational announced the completion of a $50 million Series A funding round, led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures.Odaily Seer Prophet Channel continues to monitor the prediction market — seeing changes before they are priced in.

Variational's open interest exceeds $800 million, ranking first among Perp DEX projects that have not yet issued tokens

According to DefiLlama data, Variational's open interest exceeds $800 million, ranking fourth in the Perp DEX sector. Notably, among the top five Perp DEXs by open interest, Variational is the only platform that has not yet issued a token.Previously, it was reported that last night Variational announced the completion of a $50 million Series A funding round, led by Dragonfly Capital.

Variational Secures $50 Million Series A Funding, Led by Dragonfly Capital

decentralized derivatives trading platform Variational has announced the completion of a $50 million Series A funding round. The round was led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures. Headquartered in the Cayman Islands, the company is dedicated to building an on-chain derivatives protocol for institutional and traditional finance traders. By aggregating liquidity from both traditional finance and crypto markets, it aims to provide instantly tradable on-chain markets for real-world assets such as oil and commodities. Its core product, the Omni platform, adopts a zero-fee model and incorporates a liquidity pool mechanism to enhance market depth and execution efficiency.Variational stated that its goal is not to directly compete with centralized exchanges, but rather to connect multi-source liquidity through a "brokerage-style" model, including traditional finance market makers and major crypto trading platforms, in order to solve the "liquidity cold start" problem for on-chain markets. (Fortune)

Coinbase

Omni

Variational

2026-05-05 21:46

Dragonfly Investor: Coinbase Expected to Save $225 Million Annually in Compensation Costs After Layoffs

Dragonfly investor Omar Kanji stated on X that Coinbase’s 14% workforce reduction is expected to save $225 million in annual compensation costs.According to earlier reports, Coinbase CEO Brian Armstrong posted on X that due to market conditions and the transition to an AI-native architecture, the company will lay off approximately 14% of its staff.

Dragonfly Partner: Retail Investors Have Largely Exited the Market, Institutions Are Forming the Bitcoin Price Floor

Dragonfly partner Haseeb Qureshi stated that retail investors have largely withdrawn from the current crypto market, with institutions forming the market floor and supporting Bitcoin's price. He pointed out that Bitcoin is being viewed as a mature asset with sustained growth potential over the next 15 to 20 years, while altcoins need a clear narrative to regain retail interest.He also noted that the core of the crypto industry remains centered on money and financial applications, with areas such as DeFi, stablecoins, exchanges, and RWA demonstrating strong user stickiness. With the involvement of AI technology, future agents may assume intermediary roles in trading, thereby boosting overall adoption, and users with lower risk tolerance could become the primary source of new growth.

Dragonfly Partner: DeFi Evolves Through Failures, System Exhibits Resilience and Self-Healing Capabilities

Odaily News Dragonfly partner Haseeb Qureshi posted on X, stating that DeFi grows precisely through repeated failures. From the Terra collapse, the "Black Thursday" liquidation failures in 2020, to the stETH depegging event in 2022, the industry has faced repeated setbacks, yet it progresses with each correction. This process is no different from the development path of traditional finance, such as the 2008 financial crisis or the Savings and Loan Crisis in the 1980s, where systems were refined through crises.Haseeb emphasized that these failures are not fatal; the core of DeFi still possesses risk control and system resilience. For example, Aave, even when facing potential bad debts, has sufficient capital buffers to cope. He believes that the intense discussions surrounding improvement proposals are precisely the key mechanism driving the continuous evolution of DeFi, and reiterated his long-term optimism for DeFi and its community development.

Aave

Terra

2026-04-16 18:56

Crypto markets are sluggish, and most top-tier VCs have seen a significant decline in their AUM.

According to Fortune, during the 2025 crypto market downturn, major crypto-focused venture capital firms—including Paradigm, a16z, and Multicoin—generally saw declines in their assets under management (AUM). Specifically, a16z’s four crypto funds experienced an almost 40% drop in AUM to $9.5 billion compared to 2024; however, the firm had already distributed capital to limited partners (LPs) at market highs, with its first crypto fund achieving a distribution-to-paid-in (DPI) ratio of 5.4—demonstrating standout returns. Multicoin’s AUM fell by roughly half from its peak to approximately $2.7 billion. Pantera Capital also completed exit distributions via the IPOs of five portfolio companies, including Circle and BitGo. In contrast, Haun Ventures grew its AUM by over 30% year-on-year to around $2.5 billion. Currently, institutions including Paradigm, a16z crypto, and Dragonfly are actively raising new funds, with a combined target size exceeding $4.2 billion.

Dragonfly Receives $55.8 Million Worth of LIT Tokens, Locked Until December 2026

According to on-chain analytics platform Arkham (@arkham), Dragonfly received 55.8 million LIT tokens from Lighter. If these tokens represent investor allocations, they will be locked for one year starting from the TGE and then linearly vested over three years, with the earliest possible circulation date being December 30, 2026.