A startup in Tokyo backed by Coinbase Ventures plans to launch a digital asset fund as early as this year to expand the cryptocurrency investments it manages for wealthy clients. Since setting up Hyperithm Co Ltd. in 2018, Chief Executive Officer Lloyd Lee, 28, grew his client crypto assets under management to about $100 million, mainly by borrowing their digital assets and employing investment strategies such as options arbitrage to enhance returns. Next up for his firm’s expansion, Lee aims to raise up to 10 billion yen ($88 million) for a dedicated fund targeting annual returns of at least 15%. The vehicle would ... (full story)