Crypto Fund Galois Shut Down
Many companies were adversely affected by the bankruptcy of the cryptocurrency exchange FTX.
Crypto hedge fund Galois, one of the largest crypto-focused quantitative funds in the world, lost a significant portion of its capital in the collapse of FTX.
After the negative developments, Galois announced that it has stopped trading.
With the collapse of FTX, the funds of investment companies entered into troubled times.
FTX and Alameda have long been strong sister companies in the crypto industry.
However, after the recent events, both companies declared bankruptcy.
Organizations that are affiliated with or collaborate with these companies are looking for ways to recover their assets from companies that have collapsed.
One of these companies, Galois Capital, admitted that half of its funds were stuck in the crashing stock market.
Crypto fund Galois went bankrupt after losing a significant portion of its capital in the collapse of FTX.
Kevin Zhou, co-founder of Galois Capital, said: “Given the severity of the FTX situation, we do not consider it untenable to continue operating the fund, both financially and culturally.
Once again, I am deeply sorry for the current situation we find ourselves in. Stuck. We will work tirelessly to maximize our chances of recovering capital by any means."