Asymmetric's Liquid Alpha fund shuts down after huge losses this year
PANews reported on July 24 that according to CoinDesk, Joe McCann is gradually closing Asymmetric's Liquid Alpha Fund after the fund was accused of a sharp decline in value this year and sparked severe criticism online. Joe McCann said on social media that the fund strategy "clearly no longer serves the interests of LPs" and that the fund was set up for volatile markets and had achieved results. Asymmetric will now "abandon its liquidity trading strategy" and invest in long-term investments in blockchain infrastructure. Investors in the liquidity fund can choose to exit without considering the standard lock-up period, or transfer their funds to a new illiquid investment structure.
He also said that the company consists of multiple investment vehicles, and despite the troubles of the Liquid Alpha fund, other business units - especially its venture capital strategy - remain intact, and the venture capital unit will continue to support early blockchain projects. Previously, unconfirmed social media rumors claimed that the liquid fund has fallen 78% this year. Data shows that the volatility of the crypto market has dropped significantly in the past 12 months, which indicates that the digital asset market may be more mature. According to TradingView data, the Cryptocurrency Volatility Index (CVI) has fallen nearly 30%.
You May Also Like
Kaisa Capital surged 250% after the company announced a strategic transformation and launched its RWA tokenization business.
Unlock Yield: Upshift, Clearstar & Flare Launch New earnXRP Product
