According to TechFlow, on December 20, DL News reported that MNNC Group, which was renamed from FTX-related crypto hedge fund LedgerPrime in February this year, revealed that the company has raised more than $100 million. According to documents filed with the Securities and Exchange Commission on Thursday, the Cayman Islands-based company raised $53 million through two funds. But Ayesha Kiani, chief operating officer of MNNC Group, said: "The amount is much more than that. This is just one of our onshore entities."

Kiani said on Friday that MNNC Group manages more than "nine figures" in assets, but would not elaborate further. This figure has increased from the "eight figures" the fund revealed to Bloomberg in February.