TLDR Crypto

TLDR Crypto 2023-02-21

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01GENERAL

02MARKETS & BUSINESS

03INNOVATION & LAUNCHES

04GUIDES & TUTORIALS

05MISCELLANEOUS

HEDGE FUND GALOIS SHUTS DOWN AFTER HALF ITS ASSETS TRAPPED ON FTX

Galois Capital, one of the highest-profile victims of the FTX scandal, has decided to close and return its remaining money to investors. The fund had half of its assets trapped on FTX when the exchange collapsed. It was managing around $200 million in assets last year and was one of the biggest crypto-focused quantitative funds. Galois' closure will see clients receive 90% of the money not trapped in FTX, with the remaining 10% temporarily held back until discussions are finalized. The fund has sold its claim on FTX for around 16 cents on the dollar.

archive.ph2 min read