Galois Capital, a crypto hedge fund that deals in over-the-counter trading has announced that almost half of its capital is trapped in FTX.
According to a Reuters news report, Kevin Zhou a Co-founder of Galois stated that the trapped fund is estimated at $100 million even though the company had initially pulled out some funds from the crypto exchange. He wrote to investors that he is deeply sorry about the situation as they didn’t see the 3AC situation coming. He added that it could take Galois a few years before it will recover from its present ordeal.
Galois Capital tweeted via the company’s official page that funds were not withdrawn using any Bahamian process as a significant amount is still stuck while responding to accusations that they transferred funds from FTX illegally by using Bahamian accounts. They also hinted that Galois does not have any debt, so it’s just their assets that took a hit.
“Galois is presently…
