Crypto Funds Slump 50%+ As Sector Collapses

Hedge funds that focus on investing in cryptocurrencies had been one of the fastest-growing sub-sectors of the hedge fund industry up until this year. However, as large swathes of the crypto industry have imploded over the past six months, crypto hedge funds have struggled to keep their heads above water. The Big Crypto Freeze The collapse of the cryptocurrency exchange, FTX, sent shivers through the crypto industry and trapped billions of dollars of hedge funds assets. When the Bahamas-based exchange, valued at $32 billion earlier this year, collapsed, most of its customers were caught off guard. Over the past year,…