Twitter/X

Eric Kang recounts that in early 2022, before the major crypto blowups, a general…

2026-03-24 · 02:37 UTC ·@plur_daddy ·0 min read

Brief

Eric Kang uses a 2022 crypto-fund anecdote to argue that promised certainty can be a red flag. In his story, a big fund’s GP sought more money from an LP while guaranteeing a 15% return, and the LP interpreted that as a sign of trouble and redeemed. The fund later collapsed, reinforcing the lesson that unusually assured returns may signal underlying weakness.

Why it matters

Eric Kang recounts that in early 2022, before the major crypto blowups, a general partner at a large crypto fund asked an LP for additional capital while offering a 15% guaranteed return.

Key details

After hearing the 15% guaranteed-return pitch, the LP requested a full redemption the next day instead of adding capital.
Kang says the fund later went belly up in 2022, using the episode as a warning sign that 'guaranteed return' offers can indicate distress rather than safety.

Source evidence

title: @plur_daddy: Guaranteed return is never a good sign.

nitter.net/exk200/status/20362562…

Eric Kang (@exk200)

I...
author: @plurdaddy
contenttype: tweet
publication: Twitter/X
published: 2026-03-24T02:37:12+00:00
sourceurl: https://x.com/plurdaddy/status/2036271083012137306

word_count: 104

Guaranteed return is never a good sign.

nitter.net/exk200/status/20362562…

Eric Kang (@exk200)

In early 2022, a buddy of mine was an LP in one of the big crypto funds at the time. This was before things really blew up but the cracks were already starting to show

The GP of the fund reached out to my friend one day, asking for more capital at a 15% guaranteed return. After giving it some thought, my friend called back the next day and requested a full redemption. That fund ended up going belly up later that year

Anyways, I think about that story a lot

— https://nitter.net/exk200/status/2036256295569772991#m