Haseeb Qureshi: Crypto Fundamentals Remain Strong Despite AI Venture Boom

As artificial intelligence dominates venture capital funding and global headlines, some crypto investors are questioning whether the blockchain industry has missed its “ChatGPT moment.” Haseeb Qureshi, managing partner at crypto venture firm Dragonfly, strongly disagrees. Speaking at NEARCON 2026, Qureshi argued that comparisons between AI adoption and cryptocurrency growth are fundamentally flawed.

He pointed out that while AI tools have seen rapid consumer adoption, less than 1% of users actually pay for them. “Ninety-nine percent are using the free tier,” he noted, emphasizing that crypto operates differently. There is no “free Bitcoin” or “free Ethereum.” Despite this, around 15% of Americans have owned cryptocurrency, which Qureshi describes as clear evidence of mass-market adoption. By contrast, AI usage statistics often reflect free access rather than paid commitment.

Qureshi believes the stronger comparison lies in global utility, particularly stablecoins. Stablecoin supply has reportedly grown 50% year over year, signaling sustained demand regardless of crypto market volatility. For him, this consistent growth underscores solid crypto fundamentals even during price downturns.

While venture capital has shifted heavily toward AI startups, Qureshi views this as a natural market cycle rather than a permanent capital rotation away from blockchain. Crypto remains a $2 trillion asset class, and unlike AI giants with thousands of employees, many blockchain projects operate with lean teams and high efficiency. Dragonfly’s recent $650 million fundraise reflects confidence in deploying capital during market corrections rather than at peak valuations.

Although some investors hope AI and crypto convergence will reignite momentum, Qureshi cautions that meaningful integration, such as AI agents using crypto infrastructure, is still years away. He stresses that crypto’s long-term value proposition—decentralization, open networks, and global payments—remains intact.

For Qureshi, today’s uncertainty reflects normal crypto market cycles, not collapse. Price swings come and go, but stablecoin growth, blockchain adoption, and core technology fundamentals continue to strengthen the industry’s long-term outlook.