PANews reported on November 3rd that Akshat Vaidya, co-founder and head of investment at Maelstrom, the family office of Arthur Hayes, wrote on X: "Four years ago, I invested $100,000 in the Pantera Early-Stage Token Fund LP, and now I only have $56,000 left. This is because Pantera charges a 3% management fee and a 30% performance fee. In those four years, Bitcoin has doubled, and many seed-round projects have surged 20-75 times. However, this fund's fees wiped out almost half of the LP's capital. While the investment period is important, losing 50% in any cycle is the worst possible performance."