Digital Assets Report

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The recent upturn in global financial markets has prompted hedge funds to place ever risker bets as they look to maximise returns, despite the use of trading in equities already sitting at near record levels, according to a report by Reuters.
Having built a stake in Advance Auto Parts, activist hedge funds Third Point and Saddle Point Management have now secured three board seats at the firm as part of a “cooperation agreement” confirmed by the aftermarket car parts provider on Monday.
Digital asset investment products saw record weekly inflows totalling $2.7bn last week, bringing total inflow year-to-date to $10.3bn, just shy of the record $10.6bn inflows for the whole of 2021, according to the latest weekly fund flows report from CoinShares.
Record bullish speculative interest from hedge funds has helped push gold to an all-time high above $2,200 an ounce, according to a report by Kitco, citing the latest data from the Commodity Futures Trading Commission.
Dan Avery, a recently promoted Partner at Millennium Management in London, has left the firm to join multi-strategy rival Balyasny Asset Management, where he will be tasked with building a delta one team, according to a report by eFinancial Careers.
George Weiss, Founder of Weiss Multi-Strategy Advisers, unsuccessfully tried to find a buyer for his $3bn firm holding talks with several potential suitors including Millennium Management, before finally deciding to close the business, according to a report by Bloomberg.
Elliott Investment Management, the US activist hedge fund firm founded by Paul Singer, has withdrawn its unsolicited offer to acquire Currys after the UK-based electrical and electronics retailer rejected two bids.
A series of bets against tech firms that went public via special purpose acquisition companies have helped Sylebra Capital, a tech-focused hedge fund founded by ex-Coatue Management Partner Daniel Gibson, chalk up a 22% gain so far this year, according to a report by Bloomberg.
British hedge fund trader Sanjay Shah appeared in court in Denmark on Monday on the opening day of his trail for allegedly defrauding the Danish tax authorities of DKK12.7bn ($1.8bn) through so-called ‘cum-ex’ tax schemes, according to a report by Reuters.
A raft of new regulatory rules introduced in response to last year’s short seller attack on Adani, one of India’s biggest companies, has prompted several hedge funds to consider scaling back their investments in the country, according to a report by the Financial Times.

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