Dragonfly Capital has closed its fourth fund at $650 million, even as it describes the current crypto venture landscape as a “mass extinction event.” Despite market challenges, the firm remains focused on key growth areas in crypto, including financial infrastructure, stablecoins, on-chain finance, and tokenized real-world assets (RWA). The move highlights Dragonfly’s long-term confidence in blockchain innovation, positioning the firm to back projects that could shape the future of decentralized finance despite broader market volatility.
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