Quant hedge funds profit from cryptocurrency turmoil

Financial Times LogoFinancial Times1w ago

Quant hedge funds profit from cryptocurrency turmoil

Quick Summary

Luna crashed from more than $80 to close to zero in a matter of days.“We’ve made good money from luna,” Janer said.“The model followed what was happening in the market.

A small group of hedge funds are profiting from turmoil in the digital asset market that has already wiped trillions of dollars off the total value of cryptocurrencies.

London-based wealth manager Atitlan Asset Management also profited after its algorithms, which look for tradable market patterns, took a small short position in luna futures.

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Article Details

Author / Journalist: Laurence Fletcher

Category: MarketsFinanceInvesting

Topics: Year Market Been Funds Fund Luna Hedge Crypto Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 04:00:21

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 4 minutes read

Article Length: 693 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 5208

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