Dragonfly partner warns crypto VC could face extinction by 2030

The person running one of crypto’s most prominent venture funds just told the industry that funds like his might not exist much longer. Haseeb Qureshi, managing partner at Dragonfly, predicted in a July 21 interview that dedicated crypto venture capital could effectively disappear before 2030. The thesis: maturity kills the VC star Qureshi’s argument centers on two forces that are converging fast. First, the crypto industry is centralizing. The scrappy, anyone-can-launch-a-protocol era is giving way to a landscape dominated by established players with deep moats. Second, the number of genuinely venture-backable opportunities in pure-play crypto is shrinking. This isn’t a new thought experiment for Qureshi. He first floated the idea back in 2022, asserting bluntly that “crypto VC will be gone by 2030.” Four years later, he’s doubling down on that timeline rather than walking it back. Here’s the thing. He’s saying this while sitting atop a fund that just raised $650 million. Dragonfly closed its Fund IV in February 2026, which is not exactly the fundraising profile of a firm that thinks the sky is falling tomorrow. But Qureshi seems to view that capital raise as evidence of consolida...