Dragonflys Haseeb Qureshi Warns Crypto VC May End by 2030 as Active Investors Drop by 87% From 2022 Peak
Key TakeawaysHaseeb Qureshi warned that crypto VC may face a last vintage as platforms dominate.Cryptorank counted 150 active investors in July, down from 1,177 in May 2022, signaling consolidation.Dragonfly says 2030 may leave few startups, favoring founders who control distribution and economics. Cryptorank Counts Just 150 Active Venture Firms, Fewest Since November 2020 Crypto venture capital may be approaching a structural turning point, even if bitcoin, ethereum and stablecoins continue to expand. Haseeb Qureshi, managing partner at Dragonfly, said the sector could eventually reach a “last vintage” as established networks become harder for startups to challenge. “At some point, crypto VC might just be over,” Qureshi said in a July 21 interview. “There might just be a last vintage.” His warning is not a prediction that crypto will disappear. Instead, it reflects a market where scale, liquidity and network effects increasingly favor a small group of mature platforms. Social Media Offers a Warning Qureshi compared crypto with social media, which grew rapidly during the 2010s even though most of its leading platforms had been built years earlier. Facebook, WhatsApp, Instagram and LinkedIn kept expanding, while Bytedances TikTok became the rare major challenger. Crypto could follow a similar path. “Maybe by the year 2030, pretty much every important company is