Around the time Rob Hadick signed the paperwork to join Dragonfly Capital in April 2022, he’d also rented a house in the Hamptons. A contract with his former employer, hedge fund GoldenTree, obliged him to refrain from working for six months, so Hadick prepared to lean into forced leisure time in the country. His plans for a relaxed stay soon came undone.
Shortly after his arrival, the crypto market went into free fall following the implosion of a notorious stablecoin project called Terra Luna. Hadick remembers scrolling through Twitter as the contagion spread. His wife called to ask if he was relaxing. “I don’t think you understand what’s happening to our net worth,” he responded. “I am drinking whiskey in a dark room at 2 p.m. on a Tuesday.”
