Haseeb Qureshi on crypto fundamentals
From Haseeb Qureshi: Hyperliquid, Lighter, And The Explosion Of Perps (What's Next) · · The Rollup
“I've lived through a lot of days like this in crypto. Um, one of the things that gives me a special comfort at a time like this is that we didn't do anything. You know, like there are times when crypto goes down because, you know, FTX collapsed or BlockFi or, you know, some something that we did just totally [__] up and ruined the whole shindig, right? But actually, right now, if you look at the fundamentals in crypto, they look great. Right. Like we're all the technology is working. We're continuing to scale underlying blockchains. Um, if you look at RWAS, you look at trading volume in DeFi, you look at DeFi relative to CFI, you look at um, you know, all the things that we're doing with respect to asset tokenization, stable coins, like the numbers are going up and to the right. Things are working.”
On , Haseeb Qureshi, Managing Partner at Dragonfly Capital, spoke about crypto fundamentals 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.