The hedge fund was started by the first Coinbase employee. : The asset under management (AUM) of Polychain Capitals, a crypto-focused hedge fund, dropped from around $1 billion to mere $594.5 million in Q4 2018. Though the recent filings submitted to the Securities and Exchange Commission (SEC) showed a significant decrease in number, a previous filing in August last year, reported the same number to be $967.8 million – a loss of $376.4 million in 8 months.