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Protocol Ventures is the latest victim of crypto winter: sources

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Protocol Ventures Go to close its doorsaccording to Bloomberg. The FUND OF FUNDS would have invested in Multicoin, Panther or again Electric Capital.

Business Protocola U.S. fund that invests in funds that focus on cryptoIs going out of business, according to people close to the matter cited by Bloomberg.

The San Francisco-based fund recently informed investors of its. forthcoming closingexpected in early 2023, according to sources.

Investors in Protocol’s fund of hedge funds may have lost as much as 90% in the past year, they said..

Protocol Ventures would have invested in several cryptocurrency investment giants such as. BlockTower, Multicoin Capital, Panther or again Electric Capital.

The debacle of the FUNDS OF FUNDS Comes as cryptocurrency prices plummeted in 2022. Bitcoin has lost more than 70% of its value since its peak in November 2021.

Many digital asset companies have struggled, especially with the collapse of the Terra ecosystem. This summer, Three Arrows Capitala major hedge fund in the cryptocurrency sector, has been placed in receivership.

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