Crypto venture capital firm Dragonfly raises $650 million despite 'gloom of a bear market'

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Why This Matters

Crypto venture capital firm Dragonfly has raised $650 million for its fourth fund, positioning it alongside prominent firms like a16z and Paradigm, despite the current bear market in the crypto space.

Market Impact

Market impact analysis based on bullish sentiment with 80% confidence.

Sentiment
Bullish
AI Confidence
80%
Time Horizon
Short Term

Article Context

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The firm’s fourth fund positions it alongside a16z and Paradigm even as blockchain VC fundraising contracts and investors pivot toward stablecoins and tokenized finance.

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Original article published by CoinDesk on February 17, 2026.
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