Crypto hedge fund Galois Capital is shutting down after having lost almost half of its assets due to FTX collapse, the firm's founder Kevin Zhou wrote in a Twitter thread.
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He added that the fund is among the few "who are closing shop with an inception-to-date performance which is still positive." Zhou added:
"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."
Galois Capital had around $45 million worth of crypto exposed to FTX's bankruptcy. The hedge fund was one of the first crypto players that alarmed about the upcoming collapse of the Terra ecosystem and made money by shorting luna (UST) tokens.
FTX filed for Chapter 11 bankruptcy protection in the US in early November after it had faced a liquidity crisis. The Bahamas-based trading platform owes over $3 billion to the top 50 creditors.
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