Split Capital Winds Down Crypto Hedge Fund as Founder Zaheer Ebtikar Joins Plasma
The firm is returning investor capital after its founder said crypto hedge funds are no longer a viable business, following reported returns of about 100% in 2024 and 20% in 2025.
Fact Check
The core claim is strongly supported by the Fortune article 'Exclusive: Crypto hedge fund Split Capital winds down as its founder nabs new gig as an exec at stablecoin startup Plasma,' which directly states that Split Capital is winding down, investor capital was returned in late 2025, Zaheer Ebtikar joined Plasma as chief strategy officer, and that returns were about 100% in 2024 and 20% in 2025. It also explicitly quotes Ebtikar's view that crypto hedge funds are no longer a workable business. The KuCoin page 'Split Capital to Wind Down, Founder Joins Stablecoin Startup Plasma | KuCoin' independently repeats the same key facts and attributes them to Odaily/Fortune. The Odaily URL was source-traced to the same Fortune article, which further supports provenance. I could not validate the linked X posts or the The Block page during this run, but the available validated evidence already substantiates the statement.
Summary
No Summary provided as the original text is short
Terms & Concepts
- Stablecoin: A cryptocurrency designed to maintain a stable value, typically by being pegged to a fiat currency such as the U.S. dollar.
- Crypto hedge fund: An investment fund that trades digital assets and related strategies, usually aiming to generate returns for professional or institutional investors.