MEV Capital's assets under management shrank by 80% in four months, and its team was absorbed by Belem.
PANews reported on February 26th that, according to The Block, on-chain asset management company MEV Capital's assets under management have decreased by 80% from a peak of $1.5 billion in October 2025, to approximately $300 million as of February 25th. This asset shrinkage within four months stems from the stablecoin de-pegging event on October 10th last year, which triggered automatic liquidation of multiple protocols, resulting in a direct loss of over $10 million for the company. MEV Capital was heavily involved in yield strategies for the Elixir-issued deUSD stablecoin. The asset contraction led to a significant drop in revenue. The company's total protocol revenue in the first quarter of 2026 fell to $804,720, a decrease of 86.8% from $6.1 million in the fourth quarter of 2025, and a decrease of 92.4% from the peak of $10.62 million in the first quarter of 2025. Quarterly revenue fell from $608,910 in the fourth quarter of 2025 to $99,020 in the most recent quarter. CEO Laurent Bourquin has faded from public view, and approximately 10 of the original 15 employees have left the company.
Luxembourg-based digital asset investment platform Belem Capital announced the termination of its management license with MEV Capital, internalizing its institutional asset management team and integrating 10 asset management and risk technology experts. Tokenization protocol Midas has also terminated its partnership with MEV Capital, appointing RockawayX as the strategy manager for its mMEV and mevBTC products. RockawayX will be responsible for ongoing risk monitoring and strategy oversight, and all pending redemptions have been processed at the latest verified price.
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