Dragonfly

2026-07-31 00:25

Dragonfly Partner: The current AI boom may not have emerged without the development of the crypto industry

Dragonfly Partner Haseeb posted on X platform, stating that the current AI boom might not have occurred without the development of the crypto industry. He noted that over the past decade, Bitcoin miners accumulated expertise in power acquisition, site selection, and large-scale infrastructure construction in remote areas, which has laid an important foundation for the expansion of AI data centers today. Additionally, the demand for crypto mining helped NVIDIA transition from a gaming GPU manufacturer to a supplier of AI computing chips.Furthermore, the core teams of several emerging AI cloud service providers, including CoreWeave, Crusoe, Together AI, and Nscale, all have backgrounds in the crypto industry.

Bitcoin CoreWeave Furthermore GPU.Net Node AI NVIDIA

2026-07-29 07:05

Active crypto investment firms down 87% from 2022 peak; Dragonfly partner says crypto VC may be seeing its last funds

Dragonfly managing partner Haseeb Qureshi said that as mature networks become harder for startups to challenge, crypto venture capital may eventually enter a "last funds" phase. He noted this does not mean the crypto industry is disappearing, but rather that scale, liquidity, and network effects are increasingly concentrated among a few mature platforms. Qureshi stated that by 2030, most important companies in the crypto space may already be established. While large platforms will continue to grow, the room for new entrants to disrupt the market will be limited. He believes investors may underestimate the possibility that continued growth in the crypto market will not necessarily translate into investable startups. Cryptorank data shows that as of July 28, only 150 independent venture capital firms participated in crypto funding rounds in July, the lowest level since November 2020 and down from a peak of 1,177 active investment firms in May 2022. Qureshi is cautious about startups built around single financial products on platforms like Hyperliquid. He stated that if Hyperliquid controls the distribution channels, such companies are essentially closer to dealers than to businesses with lasting durability.

Hyperliquid

2026-07-21 08:32

Dragonfly Partner: Meme Coin Trading is Retail-Driven, Should Not Exhibit Weekend Lull Typical of Professional Markets

Odaily Odaily News: Dragonfly partner Haseeb posted on X platform, responding to doubts about the long-term stability of Pump.fun's revenue curve. He believes this phenomenon is not abnormal and, from a macro perspective, closely resembles the trend of overall crypto spot trading volume.Haseeb stated that some users suspect data anomalies because daily trading volume appears too stable, lacking a weekend dip. However, he argues this perspective overlooks the participant structure of the Meme coin market. Since Meme coin trading is primarily driven by retail investors, it does not experience a significant decline in trading volume on weekends, unlike markets dominated by professional traders and hedge funds such as Hyperliquid.Haseeb noted that users can verify this by examining Pump.fun's pre-issuance revenue data, which previously showed similar stability and does not indicate any irregularities. Additionally, he mentioned that trading terminals and Telegram bots have relatively high trading volumes, so their revenue is not necessarily highly correlated with Pump.fun itself. Currently, the revenue curve of the largest trading terminal, Axiom, closely resembles that of Pump.fun.

Axiom Axiom Hyperliquid Pump.fun Telegram

2026-07-14 20:01

Stablecoin payment infrastructure Velocity completes $38 million Series A funding round, led by Dragonfly

Velocity, a stablecoin payment infrastructure startup, announced the completion of a $38 million Series A funding round. This round was led by crypto investment firm Dragonfly, with participation from Coinbase, Capital One Ventures, Wintermute, and other institutions. Velocity CEO Eric Queathem did not disclose the latest valuation. Founded in 2025, Velocity focuses on providing stablecoin payment solutions for enterprises, payment service providers, fintech companies, and financial institutions, helping them leverage dollar-pegged tokens to optimize cross-border payments, fund settlement, and treasury management processes.Currently, Velocity has covered markets in the United States, parts of Europe, and Australia. The company plans to use the new funds to apply for licenses, expand into Africa and Latin America, while also investing in building more secure asset custody infrastructure and developing new features, including stablecoin yield products. (Fortune)

Coinbase Velocity Wintermute

2026-07-14 08:23

Dragonfly Partner: DeFi "Hacker Doomsday" Warning Failed to Materialize, AI Hardening Significantly Improves Security of Major Protocols

Dragonfly 管理合伙人 Haseeb Qureshi（@hosseeb）在 X 平台发文，距 OpenZeppelin 创始人 Manuel Aráoz 发出"DeFi 全面不安全"警告已过去两个月，数据显示所谓"黑客末日"并未成真。 数据显示，2026年 DeFi 被盗金额年化值低于 2025 年全年，即便剔除异常月份（如 Bybit 黑客事件、Drift 及 KelpDAO 事件）后对比，2026 年每月被盗金额仍低于 2025 年；按 TVL 标准化后，2026年 DeFi 资金被盗比例同样略低于 2025 年。 Haseeb 指出，当前呈现出"攻击次数上升、单次规模下降"的结构性特征——攻击者主要针对无力承担 AI 安全加固成本的小型协议和废弃项目，而已完成 AI 代码加固的大型协议安全性实际上有所提升。他总结称，"DeFi 中平均每一美元的安全性与一年前持平，将资金存放于大型协议大概率是安全的。"

Bybit Major OpenZeppelin

2026-07-14 06:39

Dragonfly Partner: No "Hacker Apocalypse" in DeFi; Annualized Stolen Value in 2026 Estimated at $1.89 Billion

Haseeb posted on X, stating that with models like GLM 5.2, Fable, and GPT 5.6 already launched and actively used by attackers, DeFi has not experienced the anticipated "hacker apocalypse." Chart data shows that based on the current year's data and running rate, the annualized amount stolen from DeFi in 2026 is approximately $1.89 billion. The cumulative stolen amount for the year is around $986 million, lower than the 2025 level and still within the historical range. Haseeb noted that the deeper change now is that while the number of hacker attacks has increased, the scale of individual attacks is declining more rapidly. Attackers are increasingly targeting smaller protocols and abandoned projects, while large protocols have implemented more security enhancements. As a result, overall fund security has not significantly deteriorated.

based Golem QnA3

2026-07-03 09:47

Dragonfly Managing Partner Haseeb: Bullish on ETH and SOL, Bear Market Pessimism Has Historically Been Exaggerated

Dragonfly Managing Partner Haseeb Qureshi (@hosseeb) stated in a podcast that the crypto industry is far from over, and the current talent exodus is actually a normal signal of healthy market clearing, "Retail investors always exit at the bottom and declare the industry dead, and this is precisely the precursor to the next market cycle." He reiterated his long-term bullish stance on ETH and SOL, and pointed out that in every bear market, the predictions of pessimists are without exception too extreme.

Bullish Ethereum Market Solana

2026-07-03 00:01

Dragonfly Managing Partner: Continuously Bullish on ETH and SOL

Haseeb, managing partner of Dragonfly, stated on platform X that the crypto industry is not moving towards the middle. Some people leaving the industry is actually a form of screening for the sector, a healthy phenomenon similar to the normal cleansing after the bursting of the early tech bubble. What remains are those who truly believe in long-term value — painful in the short term but beneficial in the long run.Haseeb added that he remains continuously bullish on ETH and SOL, believing both have a massive future. Cryptocurrency is essentially a continuation of technology and the internet, and it will change the world just like the internet did.

Bullish Ethereum Solana

2026-07-02 04:39

Venice AI Completes $65 Million Funding Round at $1 Billion Valuation

Venice AI founder Erik Voorhees announced on Wednesday that the company has completed its first external funding round, raising $65 million at a $1 billion valuation. The round was led by Dragonfly, with participation from North Island Ventures, Coinbase Ventures, Archetype, Liquid2 Ventures, and Morgan Creek. Launched in May 2024, Venice AI is a privacy-focused AI chatbot alternative platform designed to prevent storing user conversations on centralized company servers. Voorhees stated that Venice AI has surpassed 3 million users and has already achieved profitability in the first quarter. Voorhees said the new capital will be used to expand the Venice platform, which provides access to major open-source and proprietary AI models through a single interface and API. The annual issuance of Venice AI's native token, VVV, was reduced to 3 million tokens on Wednesday, used to reward token holders who support the network by staking VVV.

Coinbase Creek Venice

2026-07-01 22:28

Venice AI completes $65 million Series A funding round, led by Dragonfly

Venice AI has announced the completion of a $65 million Series A funding round, led by Dragonfly, with participation from Coinbase Ventures, North Island Ventures, and others, at a valuation of $1 billion. The project primarily offers a platform that grants access to over 200 AI models while ensuring privacy.

Coinbase GPU.Net Node AI Venice

2026-06-18 00:58

Dragonfly Partner Praises Zhipu: It Has Reached Another Level, Previous Judgment Was Wrong

Dragonfly managing partner Haseeb Qureshi posted on platform X, stating that he previously believed the gap between open-source and closed-source models would continue to widen due to data disparities, hardware gaps, and increasing restrictions on data extraction. However, this view was incorrect, as Zhipu has reached another level, with its model demonstrating outstanding benchmark test performance and strong early user feedback.

Level

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.

Based Based Cup June Reach Reach

2026-06-06 11:54

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.

Market Sprout Sprout Zcash

2026-05-30 10:14

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.

Coinbase predict.fun Prophet Prophet Seer Seer

2026-05-21 08:22

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.

DefiLlama NewDex Variational

2026-05-20 21:47

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 Omni Omni 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.

Brian Coinbase Save

2026-05-03 10:17

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.

ALLO Bitcoin Market Price RWA Inc. Xend Finance