Crypto Is Not Losing to AI but Reflecting Capitalism at Work, Dragonfly Partner Says
As AI draws venture funding and market attention, the crypto industry's lack of a “ChatGPT moment” has come under scrutiny. Dragonfly managing partner Haseeb Qureshi said the two are fundamentally different: AI expands through free services, while crypto assets require users to commit capital. Blockchains and smart contracts are also more likely to serve as financial infrastructure that AI agents can operate directly.
Speaking at NEARCON 2026 on Feb. 24, 2026, Qureshi said about 80% of Americans had tried AI tools and 15% had owned cryptocurrency, but fewer than 1% were paying AI users. Stablecoin supply had risen 50% year on year, while the crypto market remained worth $2 trillion. A related report on March 4 also said Dragonfly had raised a new $650 million fund and was focusing on opportunities at the intersection of AI and crypto.
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The history behind this eventDragonfly Partner Haseeb Qureshi Explores Crypto’s Maturation and Convergence With AI
Dragonfly Capital Managing Partner Haseeb Qureshi says the crypto industry is moving beyond its early science-fiction visions toward demonstrable commercial scale, with stablecoins emerging as critical infrastructure for cross-border payments and onchain finance. As the industry matures, the convergence of AI and crypto could also give rise to new models for transactions and collaboration.
In a recent interview, Qureshi said AI’s development to date has not been particularly radical and that the potential of combining it with blockchain has yet to be fully realized. Dragonfly Capital announced in April 2022 that it had raised $650 million for its third fund. He also stressed that remaining active through full market cycles, even during bear markets, is key to pursuing long-term returns.
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