Has been struck a major blow. BlockTower Capital is a well-known player in the world of cryptocurrency investments and has $1.7 billion in assets under management (AUM).
Bloomberg reported that fraud has been directed at the company, which has led to what has been called a “partial drain” of its main hedge fund.
BlockTower’s Miami HQ under scrutiny.
Matthew Goetz and Ari Paul started BlockTower Capital. Its main office is in Miami, and since its start in 2017, it has put a lot of funds into many crypto projects. Now, though, things have made people doubt how safe its funds really are. At this point, we still don’t know how much damage was done or how it was done.
People are working to find the lost funds, and BlockTower Capital has hired blockchain forensics experts to figure out what went wrong. How bad the problem is in the company is shown by the fact that limited partners know what’s going on.
Crypto investment firm has put funds into some well-known crypto companies, such as Dapper Labs, Sky Mavis, and Terraform Labs. Even though the business had lost funds, it had just raised $150 million, which showed that it still had faith in its plans.
Since the last news story, BlockTower Capital hasn’t talked about what happened in public. An awful lot of crypto fans want to know more and be sure that their funds is safe now following this.
