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

According to Fortune magazine, crypto VC Dragonfly has 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 the tokenization of real-world assets.