The digital asset hedge fund LedgerPrime has been rebranded as MNNC Group with new funding and former crew 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 crew of former LedgerPrime staff, together with former Chief Funding Officer Shiliang Tang.
In September 2022, LedgerPrime transitioned right into a household workplace for Alameda Research, the sibling buying and selling firm of FTX. Following the bankruptcy filings of FTX and Alameda, LedgerPrime was pressured to stop operations.
At its peak, LedgerPrime managed property nearing $400 million, boasting a mean annualized return of round 40%.
Now working as MNNC Group, the corporate goals to proceed the work of its predecessor. It employs 11 people, many of the former LedgerPrime employees. Moreover, LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse have initiated Split Capital, a fund that adopts a long-term perspective, significantly in liquid token investments.