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Crypto hedge fund Galois Capital is shutting down after losing about half of its assets to the FTX disaster. “Given the severity of the FTX situation, we do not think it is tenable to continue operating the fund both financially and culturally,” the fund’s co-founder told investors. Crypto Hedge Fund Shuts
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As per reports, Galois Capital has nearly $100 million worth of funds stuck with the crypto exchange FTX. The contagion of FTX’s collapse last year in November 2022 continues to spread across the crypto market. Crypto hedge fund Galois Capital has become the latest victim of the FTX collapse. As per
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Galois co-founder said the fund has halted all trading as it is no longer viable post-FTX. Source
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According to the co-founder of Galois Capital, the hedge fund manager who warned about the Terra collapse before it happened, half of the hedge fund’s capital is left trapped on FTX. Galois co-founder, Kevin Zhou, wrote a letter to investors explaining the situation and said he was “deeply sorry” about
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According to co-founder Kevin Zhou, the locked funds total around $40 million. Source
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