Alameda Research and Terra’s Do Kwon-backed crypto hedge fund Pangea Fund Management will rebrand to Syncracy Capital after a seven-month silence.
hedge fund website It shows that you are not doing solid development or investment. The company’s official Twitter account has only seven of his tweets. Two of his are from May 2022, at the height of the Terralna crash, and three are from his 2021.
May, Bloomberg report Ryan Watkins and Daniel Cheung starting a hedge fund. The duo secured $85 million in a funding round involving Bain Capital and Union Square Ventures co-founder ParaFi Brad Burnham, Apollo Global Management co-founder Josh Harris, and Multicoin. Did.
Watkins said hedge funds will invest in early winners in each crypto category. “We are doing it,” he added.
Why hedge fund rebranding?
Watkins murmured The strategy of the rebranded hedge fund remains unchanged. According to him, Syncracy is “a thesis-driven hedge fund that invests with high conviction and focus in the long-term winners of the crypto economy.”
He added that the hedge fund aims to “support the crypto economy’s key infrastructure protocols as they move up the S-curve to global adoption.”
By the way, hedge funds employs S.With Haun Mulreed as Chief Operating Officer, Wilson Witham As a research director.
Syncracy Capital has not yet responded. of crypto slate Request for comments at press time.
Investor in the spotlight
Do Kwon and Alameda Research have been under intense scrutiny since the hedge fund was launched.
Alameda Research recently went bankrupt. The company’s former CEO, Caroline Ellison, pleaded guilty to her criminal charges. The US SEC has accused her of manipulating her FTT price on FTX and misusing FTX client funds to support her Alameda trading activities.
FTX CEO John Ray has accused the crypto empire’s previous management of not keeping records of its investments and activities.
Dokwon, meanwhile, has been declared wanted by South Korea for his involvement in the fall of Terra, and was reportedly in Serbia.
