Cryptocurrency venture capital firm Dragonfly has completed fundraising for its fourth fund, totaling $650 million

According to Fortune magazine, amid the backdrop of "mass extinction" facing blockchain venture capital firms, crypto VC Dragonfly has successfully completed the fundraising for its fourth fund, totaling $650 million.

Dragonfly stated that the current blockchain venture capital industry is undergoing a "mass clearing," but institutions remain optimistic about the trend of crypto financialization, focusing on areas such as stablecoins, on-chain financial infrastructure, and tokenization of real assets.