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April 10, 2018

Crypto hedge fund known for returns got cut nearly in half last month – cnbc.com

Pantera Capital, a hedge fund that gained attention for returning 25,000 percent over its lifetime through the end of last year, saw the value of its cryptocurrency fund cut nearly in half in March, according to an investor letter Tuesday.

“This was a really rough month for the Digital Asset Fund and the space in general,” Joey Krug, co-chief investment officer of Pantera Capital, wrote in a letter to clients Friday reviewed by CNBC. “We’re in a market with around 100 percent annualized volatility and this month was the worst month in our model’s 27-month history.”

The hedge fund highlighted that since Dec. 1, its Digital Asset Fund [...]

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