Galois Capital, a crypto hedge fund that famously bet against Terra’s Luna token and once boasted $200 million in assets, told investors that it was shuttering after previously admitting that half of its assets were trapped on FTX, the now-bankrupt cryptocurrency exchange.
Kevin Zhou, founder of the fund and former head of trading at cryptocurrency exchange Kraken, said Galois has stopped all trading and will return 90% of the remaining money it still has under its control to its clients, according to documents reviewed by the Financial Times. The other 10% will be held back until the now-defunct fund finalizes agreements with its administrators and auditors.
