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Maelstrom co-founder: Four years ago, investing in Pantera's early Token fund has nearly experienced a 50% Slump, while many seed round projects have seen a big pump of 20-75 times.
On November 3rd, Akshat Vaidya, co-founder and investment director of the Maelstrom family office of Arthur Hayes, posted on X stating, “I invested $100,000 in the Pantera Early-Stage Token Fund LP four years ago, and now there's only $56,000 left because Pantera charges a 3% management fee and a 30% performance share. During these four years, Bitcoin has risen 2 times, and many seed round projects have surged 20-75 times, yet this fund's fees have nearly wiped out half of the LP's funds. While the investment years are important, to lose 50% in any cycle is truly the worst performance.”