Split Capital founder closes profitable hedge fund to build stablecoin infrastructure at Plasma

The founder of Split Capital has wound down the crypto hedge fund and joined Plasma, a stablecoin infrastructure startup. Reports say the founder accepted a senior strategy role at Plasma’s stablecoin platform as the fund closed operations this month ^{[1] [2] [3]}.

Coverage notes the move reflects a deliberate pivot away from trading: the founder has publicly argued that traditional crypto hedge fund models “no longer work,” prompting a shift from generating trading alpha to building stablecoin infrastructure that can scale as a financial technology layer ^{[2] [4]}.

Outlets report Split Capital was closed profitably and that the founder’s transition to Plasma is framed as applying trading and product experience to infrastructure seen as increasingly critical for crypto markets ^{[2] [1]}.

Observers say the change underscores growing industry interest in stablecoin infrastructure as a foundational component of the crypto stack, a trend highlighted in coverage of the founder’s pivot ^{[2] [1]}.