Maelstrom's co-founder claims that his investment in a Pantera fund four years ago has nearly halved.

Akshat Vaidya, co-founder and head of investments at Maelstrom, the family office of Arthur Hayes' family wealth management, wrote on X: "Four years ago, I invested $100,000 in the Pantera Early-Stage Token Fund LP fund, and now I only have $56,000 left. This is because Pantera charges a 3% management fee and a 30% performance fee. In those four years, Bitcoin has doubled, and many seed-round projects have skyrocketed 20-75 times. However, this fund's fees wiped out almost half of the LP's capital. While the investment year is important, losing 50% in any period is the worst possible performance."