💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Crypto Hedge Fund Goes Belly Up After Bitcoin Price Drop to $3.8K

Published 03/20/2020, 04:36 PM
Updated 03/20/2020, 09:20 PM
Crypto Hedge Fund Goes Belly Up After Bitcoin Price Drop to $3.8K
BTC/USD
-

Adaptive 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 Bitcoin (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.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.