Hassan Bassiri, Vice President of Arca Portfolio Management of Crypto Hedge Fund, resigned

It is reported that Hassan Bassiri, vice president of portfolio management of Arca, a crypto hedge fund, has resigned. The time and reason for Bassiri’s resignation were not disclosed. Before joining Arca, he worked in the M&A team of KPMG, the four major accounting firms, for 10 years, including as a DeFi analyst. A few months after the closure of the Arca Digital Yield Fund, which he co-managed with Jeff Dorman, Arca’s chief investment officer, Bassiri chose to leave. The Digital Yield Fund opened in the summer of 2021, but closed in August 2022.

Interpretation of this information:

Arca’s vice president of portfolio management, Hassan Bassiri, has resigned, and no details on his resignation have been given. He joined Arca after working in the M&A team of KPMG for ten years, including as a DeFi analyst. Bassiri’s resignation came a few months after the closure of the Arca Digital Yield Fund, which he co-managed.

It is unclear why Bassiri resigned or what his future plans are. However, his departure follows several recent high-profile departures in the crypto industry, including the CEO of Bitmain, Jihan Wu, and the CTO of Coinbase, Balaji Srinivasan. These departures suggest that the crypto industry is undergoing a period of transformation, as it moves from a niche industry to one that is increasingly mainstream.

There are several possible reasons for Bassiri’s resignation. One possibility is that he disagreed with the direction that Arca was heading in, particularly with regards to its Digital Yield Fund. Another possibility is that he simply wanted to pursue other opportunities outside of the crypto industry. Whatever the reason, his departure is likely to have a significant impact on Arca’s portfolio management team, and it remains to be seen how the firm will adapt to his absence.