The Rollup Haseeb Qureshi on Hyperliquid, IPOs vs. Tokens, and High Agency
6 snips
May 22, 2025 
In this discussion, Haseeb Qureshi, managing partner at Dragonfly, shares his insights from the forefront of the crypto venture capital scene. He delves into the potential of Bitcoin to influence the debt market and debates the dynamics of IPOs versus token launches. Haseeb also discusses his strategy for navigating competitive decentralized exchanges like Hyperliquid, and reflects on the lasting wisdom he's gained from mentors. Plus, he emphasizes optimizing for agency to shape one’s career path in the fast-evolving crypto landscape.
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Venture vs Passive Bitcoin Strategies
- Venture consistently works over the long term due to continuous innovation and capital needs.
- Passive Bitcoin strategies like GBTC will eventually saturate as debt markets become fully utilized.
Coinbase's Long-Term Strategy
- Brian Armstrong and Coinbase focus on winning the long game, not short-term cycles.
- Their regulation-first approach builds trust and sets a foundation for lasting institutional adoption.
Exchange vs Blockchain Building Challenge
- It is very difficult for a centralized exchange to build a neutral and trusted Layer 1 blockchain.
- Trust and neutrality are crucial for large-scale L1 adoption, unlike centralized exchanges which excel at trust.