Multicoin detailed the financial condition of its hedge fund, revealing that the fund had 10% of its assets stuck on FTX, as well as significant exposure to FTT, SOL and SRM, all tokens that saw steep sell-offs last November.

The letter also details that Multicoin has taken new steps to "mitigate counterparty risks." The firm will only keep 48 hours worth of trading assets on an exchange at a time, adjusted collateral management practices to reduce the amount of collateral held on exchanges for derivatives positions, and is onboarding with additional custodians to diversify custodial risk.

#crypto2023 #Research #cryptonews #hedgefund

Ray Dalio agrees crypto investing can negatively impact mental well being.

American investor Ray Dalio said he holds a little Bitcoin (BTC) but is not a fan – instead, preferring gold.

Not a fan of Bitcoin

Ray Dalio, the billionaire investor, expressed his views to Chris Williamson, a former model turned Podcaster. He stated that although he favors gold, Bitcoin provides features that gold cannot, such as transaction tracking and being "disliked by the government." He also raised doubts as to why Bitcoin receives more attention than Microsoft, despite having a smaller market cap, and admitted that there could be some aspect of it that he does not comprehend.

“Its size is about 30% of the size of Microsoft, and Microsoft is one stock among many stocks. [But] it’s given a lot more attention.”

The renowned investor explained his favoritism towards gold over Bitcoin, citing the precious metal's timelessness and universality, as well as its ranking as the third-highest reserve asset held by central banks, behind dollars and euros.

While Dalio does hold a small amount of Bitcoin, he intentionally keeps his allocation low due to the cryptocurrency's extreme volatility and potential downside risks.

He emphasized the importance of a cautious investment approach, stating that he does not invest heavily in Bitcoin, saying "I don't think a lot of Bitcoin."

Sanity-sapping?

Williamson shared his perspective, saying that being a crypto investor can negatively impact one's mental well-being. He interpreted Dalio's preference for gold as a bias towards "less sanity-sapping forms of investment."

“There is a price that you pay because of the volatility. But the price that you pay is with your own sanity.”

During the conversation, Dalio agreed with Williamson's statement that being a crypto investor can negatively impact one's mental well-being. He acknowledged that while some have become wealthy through crypto investments, others have gone broke because of it.

When asked about coping with the uncertainty of the world, Dalio suggested keeping things in perspective by recognizing that even in difficult times like depressions and wars, most people remain employed and alive. He recommended spending time in places of goodness, harmony, and beauty, such as being in nature.

Regarding the challenge of disconnecting from the constant stream of negative news, including financial news, Dalio suggested turning off the TV and spending time in nature to help reduce stress. He also emphasized the importance of prioritizing relationships with friends and family over money.

#BTC #bitcoin #crypto2023 #hedgefund #dyor

Source: cryptoslate

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Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.