Dragonfly Managing Partner Haseeb has stated that the current cryptocurrency market downturn is significantly less severe than the extreme bear market of 2022. During that period, the industry faced a series of collapses including Luna, 3AC, FTX, Genesis, BlockFi, and the NFT market, followed by bank failures, stablecoin de-pegging, and intense regulatory pressure. Haseeb expressed uncertainty about the industry's survival back then. In contrast, he describes the current market as much more manageable, with stable fundamentals and a normally functioning crypto system. He encourages investors to remain calm and confident, assuring them that the industry will endure this phase.