Galois Capital Closes Flagship Fund Over FTX Loss

Galois Capital, a crypto hedge fund that specializes in over-the-counter trading and algorithmic market-making, confirmed on Twitter today that it is shutting down its flagship fund.

Reportedly, the hedge fund is no longer viable, with trading closed and positions exited.

"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”, Galois Capital tweeted.

Roughly half of the company's capital is "stuck on FTX"​ due to the crypto giant’s collapse in last November. At that time, the Galois Capital co-founder expected that the firm would recover some percentage of its assets on FTX over the course of a few years.

"Although this is the end of an era for Galois, the work we have done together for the past few years has not been in vain. I can't say more than this for now. Stay tuned," the company continued.