Crypto hedge fund traders were not immune to bitcoin’s downright frigid bear market. Just look at Polychain Capital, whose assets under management (AUM) fell to $591.5 million at year-end 2018, according to a regulatory filing cited in the Wall Street Journal. Investors Stay Put in Polychain Capital’s Fund The San Francisco-based crypto hedge fund boasted $1 billion in assets as of February 2018, which in addition to cryptocurrency included unspent cash pledged by investors and equity holdings in companies, Fortune reports. The value of Polychain’s AUM, however, tumbled nearly 40% between April and December 2018 when the bear market gripped
The post $1 Billion Crypto Hedge Fund Crashed 40% – But Still Beat Bitcoin appeared first on CCN
Read the original post: Billion Crypto Hedge Fund Crashed 40% – But Still Beat Bitcoin