Odaily Planet Daily reports that Akshat Vaidya, co-founder and head of investments at Maelstrom (Arthur Hayes' family investment office), criticized Pantera in an article published on X, stating that he invested $100,000 in Pantera's Early-Stage Token Fund LP four years ago, and now only $56,000 remains. He attributed this to Pantera's 3% management fee and 30% performance fee. In those four years, Bitcoin doubled, and countless seed-round projects surged 20-75 times, while this fund devoured half of the LPs' principal through its fee structure. While the investment period is important, losing 50% in any given timeframe is the worst possible performance.