MEV Capital's asset management scale shrank by 80% in four months, and the team was absorbed by Belem

PANews reports that on February 26, The Block stated that the on-chain asset management firm MEV Capital’s assets have decreased by 80% from a peak of $1.5 billion in October 2025 to approximately $300 million as of February 25. The asset decline over four months was triggered by the stablecoin de-pegging event on October 10 last year, which caused automatic liquidations across multiple protocols and resulted in direct losses exceeding $10 million for the company. MEV Capital heavily invested in the yield strategies of the deUSD stablecoin issued by Elixir. The shrinking assets led to a significant drop in revenue. The company’s total protocol revenue in Q1 2026 fell to $804,720, down 86.8% from $6.1 million in Q4 2025, and down 92.4% from the peak of $10.62 million in Q1 2025. Quarterly earnings dropped from $608,910 in Q4 2025 to $99,020 in the most recent quarter. CEO Laurent Bourquin has stepped back from the public eye, and about 10 of the original 15 employees have left.

Luxembourg-based digital asset investment platform Belem Capital announced it has terminated its management authorization with MEV Capital, internalized its institutional asset management team, and integrated 10 asset management and risk technology experts. The tokenization protocol Midas has ended its partnership with MEV Capital and appointed 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 completed at the latest verified prices.