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Crypto hedge fund Galois Capital shuts down

Galois Capital lost about $40 million in the FTX collapse.

By Mike Hesp
• 2 min read
Crypto hedge fund Galois Capital shuts down

Galois Capital lost about $40 million in the FTX collapse. Now the crypto hedge fund is shutting down.

One of the world’s largest crypto-focused quantitative hedge funds, Galois Capital, has said it will stop.

The reason is a $40 million capital loss in the wake of the FTX collapse. After the Financial Times earlier reported the fund’s closure, the crypto firm replied on Twitter: "Yes, it’s true that our flagship fund is closing."

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"Almost half" of the assets were lost due to the FTX meltdown and then the claims for pennies on the dollar were made."

Clients will receive about 90 percent of the money not locked on FTX, says Galois. The remaining 10 percent will be temporarily withheld until discussions with the administrators are wrapped up, they add.

After the FTX crisis, many crypto firms declared insolvency or halted services.

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