Dragonfly Capital has acquired the cryptocurrency hedge fund MetaStable Capital

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Last Updated on August 18, 2022 by Bitfinsider

Dragonfly has acquired MetaStable Capital, a crypto hedge fund based in San Francisco.

Dragonfly announced the relocation and rebranding in a Medium post on Monday. Previously, the firm backed Near Foundation, DAI-issuer MakerDAO, and cryptocurrency exchange ByBit.

“Metastable is one of the longest-running funds in crypto history, co-founded by Naval Ravikant in 2014,” according to the post. “[It] invested early in Ethereum, Avalanche, Cosmos, Starkware, NEAR, Zcash, Filecoin, Dfinity, and Algorand.”

The deal’s terms were not disclosed in the Medium post. 

The announcement comes as some investment firms withdraw from previously committed acquisition efforts. Galaxy Digital, an investment firm, backed out of its acquisition of cryptocurrency custodian BitGo earlier today. Nonetheless, according to a recent The Block research report, crypto M&A transactions are on track for a record year.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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