Adaptive Capital, a cryptocurrency hedge fund created by well-known Bitcoin investor Willy Woo, has suffered losses due to sharp market fluctuations last week and has decided to close the fund. According to media reports such as The Block, Adaptive Capital has written to the investors of the fund and decided to allocate the remaining funds to them. The letter also stated that the inefficient infrastructure of the cryptocurrency market led to sharp market fluctuations last week. The fund failed to respond properly, resulting in investment losses, “the risks of continuing operations in such an unstable environment outweigh the potential gains.” People familiar with the matter said that after last week’s market volatility, the size of Adaptive Capital’s assets under management fell by more than 50%. Adaptive Capital is a multi-investment strategy cryptocurrency hedge fund. It was founded last June with the participation of Willy Woo, creator of the Bitcoin NVT valuation model and well-known Bitcoin investor. Murad Mahmudov, an active analyst in the Bitcoin investment field, also One of the founding partners of the fund. At the time of writing, neither Willy Woo nor Murad Mahmudov had responded to the chain’s inquiry.