Cryptocurrencies
Crypto Venture Company Dragonfly Buys Hedge Fund, Rebrands
- Hedge fund MetaStable Capital was backed by Silicon Valley VCs
- Shakeout in crypto sector is starting to trigger consolidation
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Digital-asset venture capital firm Dragonfly said it acquired MetaStable Capital, one of the oldest investment funds in cryptocurrencies, and completed a rebranding.
The acquisition comes as the digital-asset industry consolidates, said Haseeb Qureshi, managing partner at Dragonfly. Terms of the deal weren’t disclosed. Dragonfly added the firm has dropped “Capital” in its name under a new logo.