Vice President of Arca Portfolio Management of Crypto Hedge Fund resigned
According to reports, according to people familiar with the matter, Hassan Bassiri, vice president of portfolio management of Arca, has confirmed to leave the company. The time and reason for Bassiri’s resignation were not disclosed. However, it can be confirmed that the Arca Digital Yield Fund, jointly managed by Bassiri and Arca Chief Investment Officer Jeff Dorman, has been closed for several months due to the collapse of Terra. （CoinDesk）
Interpretation of this information:
The news that Hassan Bassiri, the Vice President of Portfolio Management at Arca, has left the company has been confirmed by sources close to the company. No details have been given regarding the reasons for his departure, but it is known that the Arca Digital Yield Fund which he managed with Arca’s Chief Investment Officer, Jeff Dorman, has been closed for several months due to the collapse of Terra.
The departure of Bassiri raises questions about the future of the company as he was a key figure in Arca’s portfolio management team. His expertise and experience will be missed by the firm, and it will be interesting to see how Arca will cope with his departure.
The Arca Digital Yield Fund was created to provide investors with exposure to digital assets through a liquid and transparent instrument. The collapse of Terra, however, resulted in the closure of the fund. This is a reminder that investments in digital assets come with significant risks and investors must be prepared for volatility and market fluctuations.
The departure of Hassan Bassiri and the closure of the Arca Digital Yield Fund highlights the need for robust risk management strategies in digital asset investments. It is crucial for investors to be aware of the risks involved and to carry out a thorough due diligence process before investing in digital assets. With the unpredictability of the market and the potential for significant losses, investors must be cautious and seek professional guidance before making any investment decisions.
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