Dragonfly Capital Secures $650 Million for Fourth Crypto Fund Amid Market Challenges

Dragonfly Capital has successfully closed its fourth investment fund, raising $650 million, despite characterizing the current crypto venture landscape as a challenging 'mass extinction event.' According to NS3.AI, the firm is dedicated to investing in the transition of cryptocurrency towards financial infrastructure, with a focus on stablecoins, onchain finance, and tokenized real-world assets. This strategic move reflects Dragonfly Capital's confidence in foundational sectors of the crypto market, even as it faces significant headwinds.