Protocol Ventures to Shut Down after 90% Loss, Bloomberg Reports

Crypto fund Protocol Ventures is likely to shut down by year-end or the first quarter of 2023, Bloomberg reports.

Protocol Ventures notified investors about its closure at the end of October, according to people familiar with the matter. Investors in Protocol Ventures may have lost as much as 90% over the past year, the people said.

Previously, Protocol Ventures invested in companies like BlockTower Capital, Multicoin Capital, Pantera Capital and Electric Capital.