{"id":74327,"date":"2023-02-20T09:41:15","date_gmt":"2023-02-20T07:41:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74327"},"modified":"2025-09-09T19:26:31","modified_gmt":"2025-09-09T16:26:31","slug":"galois-capital-hedge-fund-closes-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/galois-capital-hedge-fund-closes-after-ftx-collapse\/","title":{"rendered":"Galois Capital hedge fund closes after FTX collapse"},"content":{"rendered":"

The leadership of the cryptocurrency-focused hedge fund Galois Capital has decided to close the fund after events surrounding the FTX bitcoin exchange. The Financial Times<\/a> reports.<\/p>\n

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“Given the seriousness of the situation with FTX, we do not think that continuing to manage the fund both financially and culturally is sensible. [\u2026] I am terribly sorry about the current situation we find ourselves in,” said Kevin Zhou, co-founder of Galois, in an internal note.<\/p>\n<\/blockquote>\n

In November 2022, representatives of the hedge fund told CoinDesk<\/a> that about $40 million had been blocked in FTX \u2014 roughly half of Galois’s funds. At that time, in a letter to investors, the management explained that recovering “some percentage” of assets could take “several years”.<\/p>\n

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“This entire tragic saga, from the collapse of LUNA to the crisis of 3AC [Three Arrows Capital] and the fall of FTX\/Alameda, has undoubtedly set the crypto space back considerably. Yet I still hold out hope for the long-term future of cryptocurrency,” Zhou said.<\/p>\n<\/blockquote>\n

According to Crypto Fund Research, the cumulative losses of crypto funds from FTX’s bankruptcy could amount to up to $5 billion<\/a>.<\/p>\n

In February 2023, investors in the exchange filed a lawsuit<\/a> against venture and private investment firms, including Sequoia Capital, Thoma Bravo and Paradigm, for creating an “aura of legitimacy” around FTX.<\/p>\n","protected":false},"excerpt":{"rendered":"

The leadership of the cryptocurrency-focused hedge fund Galois Capital has decided to close the fund after events surrounding the FTX bitcoin exchange. The Financial Times reports.<\/p>\n","protected":false},"author":1,"featured_media":74328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1236,1156],"class_list":["post-74327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-ftx","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74327"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74327\/revisions"}],"predecessor-version":[{"id":74329,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74327\/revisions\/74329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74328"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}