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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.

2023.02.21
archive.ph2 min readTLDR Crypto

PROBE

Nishad Singh is expected to plead guilty to US criminal charges related to a multiyear fraud at crypto exchange FTX. The Commodity Futures Trading Commission and the Securities and Exchange Commission are planning to sue Singh over his alleged role in the scheme. Singh had a close relationship with Bankman-Fried. He helped write the software the exchange was built on. The deal, which could involve cooperating with authorities, has yet to be finalized.

2023.02.20
archive.ph4 min readTLDR Crypto

MANAGED BY CEO ZHAO

Binance moved large sums of money over the first three months of 2021 from Binance.US to Merit Peak, a trading firm managed by Binance CEO Changpeng Zhao. Over $400 million was transferred from the Binance.US account to Merit Peak. The reason for the transfer and whether any of the money belonged to Binance.US customers is unknown. A Binance spokesperson commented that the information was outdated.

2023.02.17
archive.ph16 min readTLDR Crypto

BROTHERHOOD AND BETRAYAL

Sam Bankman-Fried and Gary Wang had been friends since their teens. They met during a five-week summer program for mathematically talented high school students in 2008. Bankman-Fried and Wang worked together for nearly all of their adult lives. This article looks at Gary Wang, his past, and his role with FTX. Wang was mostly in the background, creating the platforms and engines that the company used.

2023.02.17
archive.ph17 min readTLDR Crypto

ZKSYNC COUNTERS POLYGON WITH ‘MAINNET’ ROLLUP

zkSync has opened up registrations for developers to deploy applications to its blockchain-based platform. The announcement comes a day after Polygon set a date for the launch of its zero-knowledge-based scaling solution for Ethereum. Matter Labs has raised $200M to develop an ecosystem fund to foster the adoption of zkEVM. The recent announcements by Polygon and Matter Labs may increase pressure for other zk-rollup providers to launch their platforms.

2023.02.17
thedefiant.io2 min readTLDR Crypto

MULTICALLER

Multicaller is a package for efficiently calling multiple contracts in a single transaction.

2023.02.17
github.comGitHub repositoryTLDR Crypto

US CRACKDOWN SEEKS TO PUSH CRYPTO BACK TO THE FRINGES OF FINANCE

This article provides updates on the latest in US crypto regulation news. US financial regulators are taking a tough stance against the crypto industry by limiting access to the US banking system. This is likely to hinder new crypto projects and impact existing ones. The wall between crypto trading and the banking and securities markets is designed to guard against potential systemic risks.

2023.02.15
archive.ph10 min readTLDR Crypto