Maelstrom co-founder: Four years ago, the early token fund invested in Pantera has nearly halved, while many seed round projects have surged 20-75 times during the same period

Arthur Hayes Family Office Maelstrom co-founder and investment director Akshat Vaidya posted on X, "I invested $100,000 in the Pantera Early-Stage Token Fund LP four years ago, and now it's down to $56,000 because Pantera charges a 3% management fee and a 30% performance fee. Over these four years, Bitcoin has doubled, and many seed-stage projects have surged 20-75 times; however, this fund's fees have nearly wiped out half of the LP's capital. While the investment years are important, losing 50% in any cycle is truly the worst performance."