Tetras Hedge fund based in New York City has announced its closure and refunding of investors as the company continues to experience low returns, according to an anonymous insider.
According to the source, Tetras Capital has been struggling to perform and has suffered a 75% loss since its establishment in 2017.
According to the company’s financial report, the cryptocurrency hedge fund managed more than 33 million USD for investors who staked over $100,000 at one point.
Tetras capital joins the long list of crypto hedge funds that have folded up since the end of the bull run in 2017.
Based on a Crypto Fund research, more than sixty-eight crypto hedge funds collapsed last year globally, which is twice the number in 2018.
Source: Coindesk
