Joe McCann runs Asymmetrics Liquid Alpha Fund after the fund was accused of losing massive value this year and drawing sharp criticism online.
In a social media post, Crypto Investor said the strategy behind Liquid Alpha Fund “clearly no longer serves our LPS.” He said the fund had been built into unstable markets and had once delivered results, but added that asymmetrical would now be “changing away from fluid trading strategies” and against long-term investments in blockchain infrastructure.
The decision comes after unconfirmed social media that Liquid Fund was down by 78% this year. However, McCann said in a separate post that the asymmetric fund “is not down 78%” and waiting for Hyperliquid’s second airdrop, which he says will bring “extraordinary” returns.
The move is not a total surprise as volatility in the crypto market has dropped significantly in the last twelve months, potentially signaling a more mature market for digital assets. Crypto Volatility Index (CVI) is down nearly 30%according to TradingView data.
Investor exit
Investors in Liquid Fund have been offered the opportunity to exit without regard to standard locking conditions or to roll their capital into a new, illiquid investment structure. “Our job is to adapt with discipline and build to what’s next,” McCann wrote.
The company, he said, consists of several investment vehicles, and while Liquid Alpha Fund was fighting, other parts of the company – especially its venture strategy – remain intact. This venture arm will continue to back back to blockchain projects in the early stage.
McCann, a former technologist and trader who moved into Crypto Investing, described the Fund’s poor results as a test of “one’s decision,” but emphasized that “the only way forward is through.”
