Crypto hedge fund Galois Capital has informed its investors that half of its funds are stuck on the FTX exchange.
With the collapse of the cryptocurrency exchange FTX, the funds of investment companies entered into troubled processes. FTX and Alameda have long been strong sister companies in the crypto industry. However, after the recent events, both companies declared bankruptcy. Organizations that are affiliated with or collaborate with these companies are looking for ways to recover their assets from companies that have collapsed. One of these companies, Galois Capital, admitted that half of its funds were stuck in the crashing stock market.
Galois Capital Addresses FTX Events
Crypto hedge fund firm Galois Capital has informed its users about FTX events. Galois was not included in the Bahamian method, which is the method used by other companies. This method was the process of sourcing from the place where the collapsed companies were headquartered.
Kevin Zhou, co-founder of the hedge fund company, has been in active communication with his investors recently. Zhou explained to his investors that he was able to withdraw some funds from FTX, but almost half of the funds were stuck inside.
Zhou stated that they will spend a lot of work to recover the funds trapped inside. He also added that if FTX files any bankruptcy protection claim, his company will be on the creditor list.
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