Key Takeaways
- • Hassan Bassiri, vice president of portfolio management at crypto hedge fund Arca, has left the firm, according to a person close to the company who confirmed the exit to CoinDesk.
- • Bassiri's profile has been removed from Arca's team page, but the timing and reason for his departure were not disclosed.
- • Bassiri's exit follows the closure in August 2022 of the Arca Digital Yield Fund, which he co-managed with CIO Jeff Dorman after its exposure to Terra's UST stablecoin.
- • Before joining Arca, Bassiri spent a decade at KPMG on its mergers and acquisitions team, including a stint as a decentralized finance analyst.
Summary
Hassan Bassiri, vice president of portfolio management at crypto hedge fund Arca, has left the firm, CoinDesk reported on February 27, 2023. His profile is no longer listed on Arca's team page, and a person close to the company confirmed his departure to CoinDesk. Neither the timing nor the reason for his exit was disclosed.
Bassiri joined Arca after a decade at Big Four accounting firm KPMG, where he worked on the mergers and acquisitions team and later served as a decentralized finance (DeFi) analyst.
His departure comes several months after Arca shuttered the Arca Digital Yield Fund, which he co-managed with Arca Chief Investment Officer Jeff Dorman. The fund opened in the summer of 2021, but its exposure to Terra's UST stablecoin and the fallout from that collapse led to its closure in August 2022.
Arca continues to manage three other vehicles: the flagship Digital Assets Fund, which invests in crypto company tokens; the venture capital-focused Arca Endeavor Fund; and a non-fungible token (NFT) fund.
Bassiri joined Arca after a decade at Big Four accounting firm KPMG, where he worked on the mergers and acquisitions team and later served as a decentralized finance (DeFi) analyst.
His departure comes several months after Arca shuttered the Arca Digital Yield Fund, which he co-managed with Arca Chief Investment Officer Jeff Dorman. The fund opened in the summer of 2021, but its exposure to Terra's UST stablecoin and the fallout from that collapse led to its closure in August 2022.
Arca continues to manage three other vehicles: the flagship Digital Assets Fund, which invests in crypto company tokens; the venture capital-focused Arca Endeavor Fund; and a non-fungible token (NFT) fund.
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