Crypto Hedge Fund Galois Capital Shuts Down After Losing $40M to FTX

Galois Capital, one of the world’s largest crypto-focused quantitative funds, has announced that it is shutting down after suffering significant losses due to the collapse of FTX. In a tweet, the company confirmed the closure of its flagship fund, following reports in the Financial Times. Last November, it was reported that Galois Capital had $40 million invested in FTX. At the time, the firm’s founder, Mark Zhou, informed investors that it could take several years to recover some of the lost funds. It has now been reported that Galois Capital has sold its bankruptcy claims for 16 cents on the dollar. The firm will be returning the remaining money to its investors, according to the FT report.

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