[Dragonfly: The Crypto Industry Has Not Lost to AI, Capital Shift Is Just a Normal Market Adjustment] Odaily Planet Daily News – As artificial intelligence continues to attract significant venture capital and market attention, some industry insiders have begun to worry whether the crypto industry has missed its own 'ChatGPT moment.' In response, Haseeb Qureshi, managing partner at crypto investment firm Dragonfly, stated that this comparison is fundamentally flawed. The crypto industry has not been replaced by AI, and the shift in capital flows is merely 'a normal result of capitalism at work.' Qureshi pointed out that the nature of AI and crypto products is entirely different. Most current AI users are utilizing free services, whereas there is no 'free tier' for crypto assets. He noted that approximately 80% of Americans have tried AI tools, while about 15% have owned crypto assets, which already represents mass adoption. He believes the core fundamentals of the crypto industry remain solid, particularly with the notable growth of stablecoins, whose supply continues to maintain an annual growth rate of around 50%. Despite a cooling in market sentiment, the overall scale of crypto assets still stands at approximately $2 trillion. The industry’s technological leverage is high, allowing small teams to build projects with global reach. Regarding the noticeable shift of venture capital funds toward the AI sector, Qureshi believes this does not signify a decline in the crypto industry but rather a correction of the overfunding seen in previous years. He stated that increasing investment during market downturns is actually a more rational strategy, and Dragonfly’s recent announcement of a new $650 million fund is based on this judgment. As for the prospects of combining AI and crypto, Qureshi remains cautious. He believes it will take several years before AI agents can truly make large-scale use of crypto technology, and AI will not be the 'savior' of the crypto industry’s recovery. Qureshi concluded that the challenges currently facing the crypto industry are more cyclical fluctuations rather than structural decline. Market volatility is a normal part of long-term development, and 'there’s no need to be overly pessimistic—this is not a disaster.'