🔴 Dragonfly Capital Secures $650M Fund IV .
Dragonfly Capital has closed its fourth fund at $650 million, with managing partner Haseeb Qureshi signaling a bold pivot. The firm plans to double down on stablecoins and DeFi, while Qureshi declared bluntly: “Non‑financial crypto has failed.”
This marks one of the largest commitments yet to the financial side of crypto innovation, underscoring Dragonfly’s conviction that the future lies in money‑focused protocols and decentralized finance infrastructure.