Ronin’s hedge fund Cypress drops about 30% in Q3, giving back its 44% gain

TREE NEWS update: According to people familiar with the matter, Ronin Capital’s hedge fund Cypress fell about 30% in the third quarter, giving back nearly all of the 44% gain it had recorded from the start of the year through the end of June. The fund dropped about 25% in July alone and continued to decline over the following months, leaving its year-to-date return at just 0.6% as of the end of September.