Hong Kong Firm With Ties to Bitmain Reorganizes to Focus on Crypto Asset Management and Hedging

“Because of the current market situation,” new entrants to the crypto market are “kind of hesitant,” Wang said; they either start with small trades as a test, or they open an account and wait for their preferred market conditions. So Metalpha is focusing on existing clients, mostly from the crypto space who are “very hungry for hedging solutions because they lost a lot of money [in this bear market]. Some of them are afraid that if the market continues to behave like this, they need to protect themselves,” he said.