crypto hedge funds – pressnews

[ad_1] Contagion from the collapse of crypto exchange FTX is spreading into the world of decentralized finance. Contagion from the collapse of crypto exchange FTX is spreading into the world of decentralized finance, as lending protocol Maple Finance severed ties with a hedge fund that defaulted on almost $36 million worth of crypto loans on its platform.Sydney-based Orthogonal Trading said in a tweet on Tuesday that it defaulted on a $10 million loan after being “severely impacted by the collapse of FTX and associated trading activities,” without giving further details. M11 Credit, which runs a lending pool on Maple, on Monday said Orthogonal Trading had informed it on Dec. 3 about its inability to repay. Orthogonal Trading had taken out $31 million of loans in the USDC stablecoin an...

[ad_1] Protocol Ventures LP, a US-based investor in crypto hedge funds, is to close down and return cash following the slide in the market for digital assets. Protocol Ventures LP, a US-based investor in crypto hedge funds, is to close down and return cash following the slide in the market for digital assets, according to people familiar with the matter. Notices were sent to investors at the end of October about the move, the people said, asking not to be named because the information isn't public. The closure will likely be completed by year-end or the first quarter of 2023, one of the people said. Investors in Protocol's fund of hedge funds may have lost as much as 90% over the past year, the people said. Protocol declined to comment about the developments at the company. Pro...

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A Hedge Fund Hit by FTX Collapse Defaults on $36 Million of Debt

Another Crypto Investor Is Calling Time After the Market Sank