More crypto funds dying by losses
Crypto hedge fund Tetras Capital known for shorting ETH is shutting down
Several hedge funds and crypto venture firms toke down their services because of a lack of interest or if they lose interest by themselves. This shows again there is no interest in the product. Raising interest and value is the only driven motor not the idea. A lot of people are misleading because cryptos are different from that point of view.
Tetras Capital was launched to make trades in altcoins, but later became known for their short ETH thesis. In May 2018, the fund shorted ETHwhen the cryptocurrency was trading around $700. Today, ETH trades at around $320.
Tetras Capital’s closure follows U.K.-based Prime Factor Capital’s shutdown last week. The country’s first licensed crypto hedge couldn’t attract institutional investors. In March, Adaptive Capital also closed its doors after suffering losses.
Around 70 crypto-focused hedge funds closed last year, according to Crypto Fund Research. There are currently 355 crypto hedge funds, according to the research firm.
Hedge Funds are the massive block of a greediness society. The economic crises we are in here started in 2008 with investment companies, banks, and the real estate bubble. Today we see the result of a failed politics not stopping hedge funds and see companies like Black Rock well connected to politics and lobbyists. Nothing changed and the short game was practicable as long enough liquidation was there. In 2016 Master and Visa Card reached in Debts the whole volume of the 2008 bubble. Same time worldwide job losses started. 2019 the world economy was 3/4 of all near bankruptcy but a credit line from 2017 hold on and made the stock market look like the best of all times. This illusion burst in the beginning of March 2019. A new kind of influenza virus came up, not more dangerous like others before but the world-economy decided to call out a pandemic with some suspect virologists and the World Healthcare Organization. Governments all over the world agreed there is only one thing stopping the interest fee bubble rolling on and make customer pay more: A lockdown. This happens but no one understood how companies all over the world depend on daily revenues without having reserves. This leads into the biggest crises we have seen since the big recession in the US where Al Capone made his game. Read full article here