LedgerPrime

LedgerPrime

LedgerPrime was founded in 2017 by David Mao and operates from Grand Cayman, Cayman Islands. The firm focuses on digital assets, deploying capital through quantitative trading strategies that cover spot, derivatives, and decentralized finance markets. Mao previously worked at quantitative hedge funds, bringing systematic trading methods to the crypto space. The firm employs a multi-strategy approach combining market-making, arbitrage, and directional alpha strategies. LedgerPrime targets liquid digital assets including Bitcoin and Ethereum, as well as emerging DeFi tokens. In 2022, LedgerPrime was acquired by FTX.US (per CoinDesk, July 2022), but the operational impact remained unclear following FTX's collapse later that year. The team has managed investments for family offices and high-net-worth individuals seeking institutional-grade crypto exposure. As of mid-2025, LedgerPrime continues to operate independently, with David Mao as CIO and Emily Ruth as COO (per the firm's official communications). The firm maintains a lean team structure typical of quantitative asset managers in the crypto space. No additional offices or philanthropic vehicles have been publicly identified. LedgerPrime's key structural differentiator is its focus on quantitative methods for digital assets at a time when many crypto managers rely on discretionary or fundamental approaches. The firm also navigated the post-FTX landscape, emerging as an independent entity despite the earlier acquisition. Its Cayman Islands domicile provides regulatory flexibility for institutional investors.