Cryptocurrency venture firm Dragonfly has acquired a digital asset-focused investment fund for an undisclosed amount — a move that managing partner Haseeb Qureshi said mirrors the broad consolidation trend underway in the industry.
Bloomberg reported Monday that Dragonfly purchased MetaStable Capital, a hedge fund co-founded by Naval Ravkiant in 2014, for an undisclosed sum. In doing so, Dragonfly dropped the word “Capital” from its name and underwent a complete rebranding to reflect its growing mandate in the digital asset space.
Qureshi told Bloomberg that his firm is “committing to our crypto-native roots” at a time when traditional funds are exiting digital assets entirely due to the bear market. Despite the downtrend, Dragonfly has deepened its exposure to the crypto sector through a series of private investment rounds. In April of this year, Dragonfly closed a $650 million venture round to expand its crypto-focused portfolio. As Cointelegraph reported at the time, the raise...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...