Dragonfly’s Haseeb Qureshi Says On-Chain Pre-IPO Derivatives Reflect AI Lab Valuation Expectations

Dragonfly managing partner Haseeb Qureshi said price changes in on-chain pre-IPO derivatives reflect market expectations for AI lab valuations. According to Odaily, he said Jacob Coxon’s earlier pessimistic comments about AI risk pushed valuations for related labs higher, adding that "scaring everyone seems good for business." Qureshi said Anthropic CEO Dario Amodei’s call to "slow down the frontier race" did not have much impact on related valuations, which he said was not surprising because less model competition would reduce training spending and lower major capital expenditures. He added that after David Sacks publicly criticized Amodei, Anthropic’s valuation was largely unchanged, while OpenAI’s valuation fell, and he questioned why.