Tetras Capital Crypto Hedge Fund Shuts Down After Losses Of 75%Author: Ali RazaLast Updated: 28 July 2020 Tetras Capital, a cryptocurrency hedge fund based in New York, is officially throwing in the towel and shutting down. It will return the money of its investors after this quarter’s low returns. This comes from sources that spoke to CoinDesk, ones with direct knowledge of the matter at large. They talked to the press with the stipulation that they remain anonymous to the public.Forced To Record A 75% Loss Life-To_DateAccording to this source, the fund had continuously struggled to eke out a positive performance, and has managed to post out a 75% loss life-to-date since its opening back in 2017, when the crypto craze was at its highest.Tetras Capital, at its peak, managed an excess of $33 million at one point, stretched across over 60 investors. Each of these investors pitched in a minimum of $100,000, as the financial filings stipulated about the company.On The Backfoot Since 2017With its closure, a new, growing trend is highlighted. Tetras Capital stands as only one of a growing number of crypto hedge funds that have started to buckle since the crypto market’s 2017 bubble popped, and the prices began to slide down.Crypto Fund Research sent out a report about the matter in particular, and recorded a staggering 68 crypto hedge funds that closed down last year across the globe. This is almost double that of 2018’s numbers, which stood at an already-concerning number of 35. Tetras Capital was one of the funds that launched back in 2017, focusing primarily on altcoins. This was revealed by an interview Forbes did back in 2019 with its co-founder, Alex Sunnarborg.Doomed To FailTetras Capital managed to make a few good decisions at the start, as the interview and a fund investment report stipulated there was a short position on Ether. This short position was made at the price of $700 during May of 2018. Ultimately, this proved to be to Tetras Capital’s benefit, as the altcoin suffered a massive nosedive down to under $100 shortly after, only now managing to gain steam once more.Sunnarborg stands as a former analyst of both Coindesk and Raymond James, and sold the Lawnmower crypto-asset market research app to news publication, in turn. He manages Tetras Capital with two other partners: Thomas Garrambone and Brendan Bernstein.Garrambone and Berstein have served as analysts, in turn, for a range of investment banks, including JPMorgan, Goldman Sachs, Torreya Partners, as well as Deutsche Bank.All requests for comment to the company and the co-founders of the company have so far not been responded to.