Dragonfly Managing Partner Haseeb Qureshi Predicts the Disappearance of Crypto VC Before 2030
Dragonfly Managing Partner Haseeb Qureshi stated in an interview that crypto VC will disappear within the next four years, before 2030. He shared the qualities of excellent VCs, the biggest mistakes in crypto, and lessons learned from raising billions of dollars.
The biggest blind spots for crypto VCs include following consensus and idolizing SBF. Some categories of crypto will not survive, AI agents will enable payments within two years, and crypto will become the infrastructure of fintech.
Crypto funds and GPs are under pressure to transform, with AI and fintech benefiting from infrastructure integration. Capital is accelerating its shift from traditional crypto VCs to application layer and infrastructure integration, with the industry moving from speculation-driven funds to practical technology embedded in mainstream finance.
Source: Public Information
ABAB AI Insight
Haseeb Qureshi has previously accumulated experience through multiple crypto bull and bear cycles at Dragonfly, reflecting on industry bubbles and the lessons from the SBF incident, pushing the fund towards a long-term infrastructure investment transformation.
In terms of capital pathways, top VCs are reallocating resources from pure token speculation to AI + crypto integration, motivated by the need to adapt to the trend of infrastructure development and avoid being marginalized by large fintech companies.
Similar to early internet VCs focusing on cloud computing and application layers after the bubble, and traditional PE transitioning to mature enterprises, crypto investment is currently evolving from high-risk funds to integrated capital roles.
Essentially, this represents capital concentration: crypto maturing into fintech infrastructure, with mechanisms where AI agents and payment integration reduce the necessity for independent VCs, driving capital from dedicated crypto funds towards mainstream technology and financial platforms, accelerating the industry's transition from decentralized financing to traditional structures.
ABAB News · Law of Cognition
- Infrastructure matures, dedicated VCs exit.
- AI agents arrive, payments require no intermediary funds.
- After the collapse of bubble idols, capital returns to practicality.