Digital-asset venture capital firm Dragonfly said it acquired MetaStable Capital, one of the oldest investment funds in cryptocurrencies, and completed a rebranding.
The acquisition comes as the digital-asset industry consolidates, said Haseeb Qureshi, managing partner at Dragonfly. Terms of the deal weren’t disclosed. Dragonfly added the firm has dropped “Capital” in its name under a new logo.
“The bear market has caused a lot of traditional funds and crossover funds to exit the crypto market,” Qureshi, a former partner at MetaStable, said in a Telegram message. “We’re the opposite: we’re going deeper, and committing to our crypto-native roots.”
The crypto market has begun finding its feet after a painful rout spurred by tightening monetary policy that led to spectacular leveraged blowups. Mergers and acquisitions are climbing as part of that shakeout.
For instance, crypto exchange Huobi’s founder Leon Li is looking to sell his majority stake in the business. Digital currency...
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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...