Cryptocurrency Investor Joe McCann Closes Asymmetric Liquid Alpha Fund

Cryptocurrency investor and Asymmetric Financial founder Joe McCann announced the closure of the Asymmetric Liquid Alpha Fund due to significant investor backlash following a 78% year-to-date loss.

This news comes shortly after McCann revealed plans for a $1 billion treasury fund aimed at the Solana ecosystem, which has already depreciated nearly 70% in value.

In his official statement, McCann addressed the changes in fund structure and criticized some of the “misleading information” circulating on social media:

> “Asymmetric’s Liquid Alpha Fund was established to trade in markets characterized by high volatility. We have remained true to this strategy for years and have been successful. However, this strategy no longer serves our investors,” he stated.

He indicated a shift from liquid fund strategies, providing investors with two options: exit the funds anytime (regardless of lockup periods) or transfer their existing capital to a designated illiquid investment. McCann also claimed that Asymmetric has fulfilled all valid exit requests to date.

He emphasized that Asymmetric is not limited to the Liquid Alpha Fund, and other investment vehicles within the Asymmetric Financial umbrella are still performing well. He noted that their venture capital strategies remain unchanged:

> “I’ve experienced many ups and downs throughout my career in crypto and finance. Sharing these kinds of results isn’t easy for any investor. But the only way forward is to navigate these challenges. This is an extraordinary time to support crypto developers.”

This is not investment advice.