Pantera Capital: Liquidity token funds will lose 80% in 2022, with a 23% drop in November alone

Pantera Capital’s Liquid Token Fund is down 80% in 2022, down nearly 23% in November when FTX crashed, CoinDesk reported. During the January investor call, the Pantera fund had partially rebounded in January, up more than 47%. The Pantera Liquidity Token Fund is a “multi-strategy vehicle that typically invests in 15-25 liquidity tokens at any point in time,” with $198 million in assets under management and 13 tokens in its portfolio. Joey Krug, co-chief investment officer at Pantera, said the fund began shifting most of its portfolio from altcoins to ETH in late spring last year, which coincided with the collapse of the Terra stablecoin and Luna, triggering the collapse of lender Celsius Network. The top performers were ATOM, LINK, and OP before hitting hard in November.