Lantern Ventures, a London-based cryptocurrency hedge fund, has announced the closure of its external funds and will return $600 million to investors. The company is halting new investments as it navigates potential restructuring options, including transitioning into a family office or seeking an acquisition. Staff layoffs are anticipated, with no large-scale crypto sell-offs reported thus far. _
This move follows broader challenges in the crypto finance sector after the FTX collapse, impacting market perceptions and potentially affecting job security across the industry. Lantern Ventures’ decision reflects a shift in strategy as it seeks to navigate the current environment.