Hedge fund LedgerPrime rebrands post-FTX bankruptcy
The digital asset hedge fund LedgerPrime has been rebranded as MNNC Group with new funding and former group members following FTX’s chapter.
MNNC Group, now primarily based within the Cayman Islands, has efficiently secured funding from earlier backers of LedgerPrime, though the precise quantity stays undisclosed.
The brand new enterprise retains a core group of former LedgerPrime workers, together with former Chief Funding Officer Shiliang Tang.
In September 2022, LedgerPrime transitioned right into a household workplace for Alameda Analysis, the sibling buying and selling firm of FTX. Following the chapter filings of FTX and Alameda, LedgerPrime was compelled to stop operations.
At its peak, LedgerPrime managed belongings nearing $400 million, boasting a median annualized return of round 40%.
Now working as MNNC Group, the corporate goals to proceed the work of its predecessor. It employs 11 people, a lot of the former LedgerPrime workers. Moreover, LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse have initiated Cut up Capital, a fund that adopts a long-term perspective, significantly in liquid token investments.
