Digital asset hedge fund Room40 Capital exits external fund management, will pivot to macro trading

Former Moore Capital Management portfolio manager Paul Yablon is returning all external capital from digital asset hedge fund Room40 Capital, shifting to managing his own funds and capital from one institutional partner, and expanding his investment strategy from cryptocurrencies and digital assets to macro trading.

Paul Yablon acknowledged that the $6.3 billion hack at Binance highlights the security challenges continually facing the crypto industry, while clarifying that Room40 Capital did not hold any assets on Binance. The primary reason for this exit is that the risk-reward ratio has become asymmetric and favorable cryptocurrency investment opportunities have become increasingly scarce. Additionally, according to people familiar with the matter, Paul Yablon will return to Moore Capital as a macro portfolio manager. (Bloomberg)