Crypto hedge funds galois closes (report)

Crypto hedge funds galois closes (report)
Galois Capital-a cryptocurrency hedge fund based in San Francisco-was reportedly closed as a result of the collapse of FTX.
had half of his assets liable on the trading center and will return his remaining funds to investors.
still a descent
as reported According to the Financial Times, Galois Capital-a hedge fund that managed a fortune of around 200 million US dollar-all trade services- one and closed. The company was one of the unfortunate FTX investors and revealed that $ 100 million of his capital was trapped in the bankruptcy stock exchange.
It assured that customers receive 90 % of their money that does not remain on the platform. The remaining 10 % are distributed after the administrators and auditing companies have completed the necessary discussions on this topic.
"In view of the severity of the FTX situation, we do not consider it reasonable to continue the fund both financially and culturally.
He also argued that the company's decision to conclude the company was better than the application for insolvency protection due to the lengthy legal proceedings and the delayed reimbursements if they decide on the second option. Zhou came to the conclusion that the year 2022 was devastating for the entire cryptocurrency industry due to numerous setbacks such as Terra Crash, the fall of 3AC and the FTX saga. However, he remains a supporter of digital assets and believes in their long -term success. the list of entities preserver-spaces = "true "> affected by the FTX disaster and contains some known financial actors. These include the world's largest asset manager Blackrock, the Singapore investment company Temasek and the US hedge fund Tiger Global Management. The infection also reached the cryptocurrency platform MIDA's investments. CEO IAKOV Levin announced his closure towards the end of 2022, citing serious financial losses, which were caused by the bankruptcy of Celsius and Fiasko from FTX. The managing director said the goal of the organization was to establish a new project that is "based on principles of full transparency" and will have its own native token called Midas. "This is not the end, but the beginning of something new. I understand the difficult decision to close Midas and apologize to everyone who has lost money. I will do my best to ensure that you can get your losses in the new project," he added. . also Midas Investments sank