Dragonfly Capital is a well-known venture capital firm that operates in cryptocurrency. It has just announced its third round of funding, which was valued at $650million. This figure is more than the sum of its previous rounds, which were $100 million in Oct 2018 and $200 millions in Dec 2020.

The raise, which raised $650 million, saw participation by Invesco and Sequoia China, Tiger Global and KKR. It was slightly more than the initial $500 million declared to the Securities and Exchange Commission via Form D in January.