Key Highlights:
- Dragonfly’s Haseeb Qureshi calls this crypto bear market the easiest yet.
- Haseeb views Gary Gensler’s exit as a turning point for crypto regulations.
- Haseeb expects AI integration and stablecoin growth due to evolving regulatory clarity.
Haseeb Qureshi, managing partner at Dragonfly Capital, posted on social media platform X today, November 14, 2025 and described the ongoing crypto market pullback to be relatively mild when compared to past downturns. His views offer an optimistic perspective for investors. The managing partner also pointed to regulatory changes, including the departure of former SEC Chair Gary Gensler in early 2025, as a notable factor shaping the market environment.
This tweet has come at a time when the crypto market is bleeding red. The market capitalization of the crypto market is down by almost 5% and the price of Bitcoin (BTC) is hovering somewhere around $96,000. The Fear and Greed Index has dropped down from 24 (last week) to 16 today, November 14, 2025.
Dragonfly Haseeb’s Bullish Frame on Crypto
Haseeb in his tweet emphasizes that the market today is the ‘easiest bear market’ that the world has seen in years, especially if compared to the chaotic collapses of 2022 that included Luna, 3AC, FTX and more. He points out that if you compare that time and today’s bearish momentum, you can see that the fundamentals are stable at least, the blockchain activity is steady and each and everyday innovations in token distribution and AI integration are increasing and the marketplace is not facing a widespread failure.
Haseeb Qureshi says that in 2025, blockchains are becoming easier to use as Layer 1 and Layer 2 merge in function. This is seen as a sign that the industry is growing as projects are now focusing on user experience and niche dominance rather than just tech innovation.
TBH this is the easiest bear market I’ve ever seen.
Seems like most of you have forgotten what 2022 was like. Luna collapsing, then 3AC, then FTX, then Genesis, BlockFi, Axie, NFTs–pretty much everything felt like a house of cards.
And then after all that stuff collapsed, the… https://t.co/DUwOZCBG3K
— Haseeb ＞|＜ (@hosseeb) November 14, 2025
He also points out that smarter token launches using clear goals and data, and rise in the stablecoin use, especially by small and medium businesses that want faster and cheaper ways to make payments.
Moreover, Qureshi also drew attention to the current regulatory framework. He states that the framework that we have right now is evolving day-by-day. He anticipates that U.S. stablecoin regulation will improve and it could increase trust and participation from big institutions. Against his regulatory backdrop, he even sees AI agents in crypto as a game-changer, bringing more automation and efficiency, and gradually turning blockchain into a hub for software development innovation.
The Gensler Effect: Why His Exit Matters
Gary Gensler’s, former SEC Chair, tenure from 2021-2025 was marked by strict enforcement and a series of major industry failures that created even more uncertainty.
During this period, the market suffered through the Terra/LUNA crash, then there was the collapse of Three Arrows Capital, the downfall of Genesis and BlockFi, the FTX implosion, the Axie Infinity hack and the crash of the NFT market and even stress in the banking system. All of these events, combined with Gensler’s actions against token sales, exchanges, and major crypto projects, added volatility and made investors nervous.
Gensler’s exit and appointment of Paul Atkins as the SEC chair now indicates a shift towards clearer and innovation friendly rules. Atkins has also suggested that he may pause some enforcement actions and will work with industry leaders to build regulations that are practical and stable. With this approach, Atkins is aiming to move away from regulation by litigation and give crypto firms and investors a more predictable environment.
Haseeb Qureshi links this regulatory change to rising market confidence. He notes that without Gensler’s confrontational approach, the risk somehow feels lower and makes today’s bear market easier to navigate than earlier crashes. He sums up the post and simply says “Hang in there, we will be fine.”
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