Multicoin Capital’s Hedge Fund lost over 90% in 2022

Multicoin Capital’s hedge fund lost 91.4% last year, according to firm’s annual investor letter. Previously, Multicoin detailed the financial condition of its hedge fund, revealing that it had 10% of assets stuck on FTX, as well as significant exposure to $FTT, $SOL and $SRM, all tokens that saw steep sell-offs last November. As the crypto market rebounded from last year’s lows, Multicoin reported that the fund gained over 100% in January 2023.

Multicoin Capital’s Hedge Fund lost over 90% in 2022

Multicoin Capital’s hedge fund lost 91.4% last year, according to firm’s annual investor letter. Previously, Multicoin detailed the financial condition of its hedge fund, revealing that it had 10% of assets stuck on FTX, as well as significant exposure to $FTT, $SOL and $SRM, all tokens that saw steep sell-offs last November. As the crypto market rebounded from last year’s lows, Multicoin reported that the fund gained over 100% in January 2023.