The digital asset hedge fund LedgerPrime has rebranded as MNNC Group following the bankruptcy of FTX.
According to previous reports, the Cayman Islands-based firm has secured undisclosed funding from previous LedgerPrime backers. Following the rebranding, MNNC Group retains a core team of former LedgerPrime employees, including ex-Chief Investment Officer Shiliang Tang.
At its peak, LedgerPrime managed nearly $400 million in assets with an average 40% annualized return. LedgerPrime was acquired by FTX’s sibling firm, Alameda Research, in September 2022 and transitioned into a family office entity. It was forced to cease operations after FTX declared bankruptcy.
Now operating under the new name, MNNC Group has 11 staff members, most of whom previously worked at LedgerPrime. The company aims to continue the investment work LedgerPrime started. Additionally, former LedgerPrime staff Zaheer Ebtikar and Michael Churchouse have initiated a new fund called Split Capital. That fund takes a long-term approach, focusing specifically on liquid token investments.
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