Investor letter: Multicoin's hedge fund had a 91.4% loss in 2022; in November, Multicoin revealed an FTT position and that 10% of its assets were stuck on FTX (Tracy Wang/CoinDesk) 05-03-2023

Tracy Wang / CoinDesk:
Investor letter: Multicoin’s hedge fund had a 91.4% loss in 2022; in November, Multicoin revealed an FTT position and that 10% of its assets were stuck on FTX — The fund’s performance was severely impacted by direct exposure to now-bankrupt crypto exchange FTX and holdings in FTT and Solana-based tokens.