Dragonfly
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Variational raises $50 million for real-world asset perps
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Peer-to-peer trading startup Variational has secured $50 million in a Series A funding round to expand its onchain derivatives platform focused on real-world assets.
Haseeb Qureshi, managing partner at crypto venture firm Dragonfly, argues that comparisons between AI's rapid adoption and crypto's trajectory overlook key differences in their products. In an interview at NEARCON 2026, he dismissed concerns that capital is permanently moving away from crypto, calling the current contraction a necessary market correction. Qureshi emphasized crypto's strong fundamentals, including steady stablecoin growth.