Vitalik Voices Support for Haseeb: Has Built One of the Best Partner Teams, is a Team Leader

On February 27, Dragonfly Capital founder Bo Feng took to X (formerly Twitter) to set the record straight, stating: “I don’t tweet often, but I want to clarify some facts today. When Dragonfly launched, it was a fund of funds (FOF). Through that business, I met countless talented VCs—and Haseeb was easily the brightest among them, which is why I invited him to co-found our venture arm. Over the years, as the world’s first international pure-play crypto venture firm, we’ve refined our methodology through 3-4 market cycles.” He added: “I’ve spent 30 years in venture capital, and Haseeb has built one of the best partner teams I’ve ever worked with. Our roles: I focus on CeFi and global exchanges; Tom Schmidt is a top DeFi and consumer investor of our generation; Rob Hadick is a leading voice in stablecoins and fintech; and Haseeb is our clear leader. Co-founding our venture arm with Haseeb has been an incredibly valuable experience, and I look forward to collaborating for many more years.” This post follows a recent public spat on social media between Dragonfly Managing Partner Haseeb Qureshi and former co-founder Alexander Pack (now co-founder of Hack VC). The debate centers on Dragonfly’s early positioning, whether it operated as an FOF, and the firm’s branding and deal-making chops in its early days. The clash over historical narratives and credit attribution underscores intensifying competition and reputation battles in the crypto VC space.