A crypto investor lost nearly $250,000 after his chosen fund collapsed during the coronavirus sell-off

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An investor in cryptocurrency hedge funds saw nearly 99% of a $250,000 investment wiped out after his chosen fund collapsed during the market meltdown. “I don’t really know what happened,” Vlad Matveev told the Financial Times. Matveev detailed Cryptolab Capital’s explanation in a Medium blog post: the fund took a leveraged position in March, and a lack of liquidity and rejection of sell orders stopped it from pulling out when crypto prices tanked. Crypto hedge funds lost an average of 26% in March, while traditional hedge funds lost about 8%, the Financial Times said, citing HFR data. Visit

Read more    Source: businessinsider.com

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