Crypto Hedge Fund Goes Belly Up After Bitcoin Price Drop to $3.8KAdaptive Capital, a crypto hedge fund, has announced that it will shutter all operations after taking heavy losses during the March 13 crypto market meltdown which saw (BTC) price drop to a 2020 low at $3,775. The fund has now issued a letter to its investors announcing the closure of the fund and the return of all remaining assets to investors.
The hedge fund had previously reported gains over 552.77% from October 3, 2018, through May 3, 2019. According to the firm, a series of infrastructural problems with a trading venue were a primary cause of the losses.
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Source: Cryptocurrency - investing.com
