Oded David “O. D.” Kobo, former co-founder of PIR Equities, said that most crypto hedge funds will not be able to survive this crypto winter. He believes that two-thirds of hedge funds investing in cryptocurrencies will fail due to the current market downturn, blaming the current down cycle on a challenging global macro backdrop.
“Volumes will drop and hedge funds will have to restructure. There are so many new crypto hedge funds, it’s overwhelming. I estimate two-thirds of them will exit the market, and they’re not all born for it. In 2020, O.D. Kobo founded Annex Capital, a digital asset investment agency, and he is an active investor in the space and was recently named one of the 50 richest people in the crypto space.