Haseeb Qureshi on perpetual futures
From Haseeb Qureshi: Hyperliquid, Lighter, And The Explosion Of Perps (What's Next) · · The Rollup
“I'm actually kind of bearish on PERPs domestically. This might be a little bit of a hot take, but um I think the idea that perps are going to somehow reinvigorate the market and like oh because we have BTC perps in the US now suddenly people will buy Bitcoin again and people will start buying crypto. I think this is just the wrong mental model.”
On , Haseeb Qureshi, Managing Partner at Dragonfly Capital, spoke about perpetual futures during Haseeb Qureshi: Hyperliquid, Lighter, And The Explosion Of Perps (What's Next) on The Rollup.
About Haseeb Qureshi
Haseeb Qureshi, managing partner at Dragonfly Capital, has been a frequent commentator on crypto markets and Ethereum's trajectory. In a series of interviews, he argued that Ethereum remains "the Microsoft of crypto"—large, enterprise-friendly, and irreplaceable—but described recent statements from Vitalik Buterin as "bearish" for ETH, suggesting the Ethereum Foundation may need a "second foundation" focused on growth and adoption. He also expressed skepticism about domestic perpetual futures products, stating that "the idea that perps are going to somehow reinvigorate the market" is "the wrong mental model," and predicted that overseas products would continue to attract users seeking high leverage. Qureshi discussed Dragonfly's $650 million fourth fund and the firm's approach to trading via RFQ desks rather than on-exchange order books. He described stablecoins as the "beating heart of crypto" and noted that the passage of the Genius Act in the US prohibits stablecoins from directly paying yield to holders. He characterized permissionless innovation as a "default yes" regulatory environment, contrasting it with the "default no" approach in traditional finance. Qureshi also participated in a debate about the Canton Network, where he questioned whether its super-validator structure made it truly permissionless.