Protocol Ventures, a San Fransisco-based fund that invests in crypto hedge funds, will close down in Q1 of 2023, according to reports. Reporting by oknightcrypt
A so-called fund of funds, Protocol – which invested in Pantera, Multicoin Capital and BlockTower Capital among others – has lost as much as 90% over the past year, according to the report.
Bitcoin has been stuck in the $20,000 area for months versus the year-ago level just above $69,000. Altcoins, meanwhile, are generally faring even worse, with many tokens losing more than 80% of their value over the same period.
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