Galois Capital, the hedge fund that successfully shorted LUNA, encountered difficulties after half of its assets became stuck on the FTX exchange.
Galois Capital co-founder Kevin Zhou recently announced in a letter to investors that “about half of the fund’s assets are still stuck.” again on FTX. According to Galois’ June statistics, the amount of money trapped could be as much as $100 million.
The fund manager also stated that recovering “a few percent of the above” could take “a few years.”
FTX announced yesterday (November 11) that Sam Bankman-Fried had resigned as CEO and that the exchange had filed for bankruptcy.
Galois is one of the cryptocurrency market’s largest quant funds. The fund will manage more than $200 million in assets by the summer of 2022. Trading as a market maker is a part of the fund’s business. Kevin Zhou, co-founder and former Kraken exchange employee, is well-known for his statements against LUNA and co-UST.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
CoinCu News
