Galois Capital confirms flagship fund shutting down
Galois Capital, a crypto hedge fund that specializes in over-the-counter trading and algorithmic market-making, confirmed today its flagship fund is shutting down. Galois said it lost almost half its assets to the FTX disaster and then sold the claim for cents on the dollar.
The company disseminated the following messages via social media:
“I appreciate the outpouring of support today when the FT article came out. Thank you all for the kind words. Yes, it is true that our flagship fund is shutting down.
In spite of that, I am proud to say that although we lost almost half our assets to the FTX disaster and then sold the claim for cents on the dollar, we are among the few who are closing shop with an inception-to-date performance which is still positive”.
On November 11, 2022, FTX and a number of its subsidiaries filed for Chapter 11 bankruptcy in the United States.