Dragonfly Partner Sees Crypto VC Disappearing by 2030 Amid Centralization and Shifting Capital

Haseeb Qureshi, managing partner at Dragonfly, predicts that dedicated crypto venture capital could effectively disappear by 2030.

This prediction is based on two converging forces: centralization in the crypto industry and a shrinking number of genuinely venture-backable opportunities in pure-play crypto.

Qureshi views the $650 million raised for Dragonfly's Fund IV as evidence of consolidation, rather than a contradiction to his thesis. He believes that smaller, less differentiated crypto VCs will struggle to raise or deploy capital effectively.

The shift in capital is not towards leaving crypto entirely, but rather towards new areas such as AI integration, stablecoins, and tokenization of real-world assets.