{"id":554152,"date":"2023-02-20T11:10:37","date_gmt":"2023-02-20T08:10:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/hedge-fund-closes-operations-after-losing-funds-in-ftx-exchange-report\/"},"modified":"2023-02-20T11:10:37","modified_gmt":"2023-02-20T08:10:37","slug":"hedge-fund-closes-operations-after-losing-funds-in-ftx-exchange-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/hedge-fund-closes-operations-after-losing-funds-in-ftx-exchange-report\/","title":{"rendered":"# Hedge fund closes operations after losing funds in FTX exchange: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d8a85cbf2a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d8a85cbf2a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/hedge-fund-closes-operations-after-losing-funds-in-ftx-exchange-report\/#%E2%80%9D_Hedge_fund_closes_operations_after_losing_funds_in_FTX_exchange_Report_%E2%80%9C\" >&#8221; Hedge fund closes operations after losing funds in FTX exchange: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Hedge_fund_closes_operations_after_losing_funds_in_FTX_exchange_Report_%E2%80%9C\"><\/span>&#8221; Hedge fund closes operations after losing funds in FTX exchange: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvZWIwMzliMGQtM2FkYi00ZTZjLWI2MzMtMDg5MjY5ZjFkOWIwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Hedge fund Galois Capital, one of the victims of the FTX collapse, has thrown in the towel after half of its assets got tr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed in the bankrupt exchange. The fund has finally decided to shut down and return its remaining assets to investors.\u00a0<\/p>\n<p>On Nov. 12, the hedge fund admitted in an announcement from its official <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account that it had significant exposure to the FTX exchange. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">For the record, yes we did have significant funds stuck on FTX.  No, we did not use any Bahamian method to move funds out.<\/p>\n<p>\u2014 Galois Capital (@Galois_Capital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Galois_Capital\/status\/1591204008672497664?ref_src=twsrc%5Etfw\">November 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>According to a report by mainstream media outlet Financial Times, the fund has now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a06b77bc-52ac-4901-98d7-8c567449262e\">told<\/a> investors in a letter that all trading was halted and the fund rolled back its positions. Kevin Zhou, the co-founder of Galois Capital, apologized to their investors and pointed out that the severity of the FTX situation makes them unable to justify continuing its operations.\u00a0<\/p>\n<p>In addition, the hedge fund said that investors will receive 90 percent of the available funds which are not trapped in the FTX exchange. The remaining 10 percent will be kept by the company temporarily until discussions are finalized. <\/p>\n<p>Apart from these, Zhou also expressed their inclination to sell the hedge fund\u2019s claims instead of waiting on a lengthy bankruptcy process that could take a decade. According to the Galois Capital co-founder, buyers of these claims are more capable of pursuing claims in bankruptcy courts. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Voyager creditors serve SBF a subpoena to appear in court for a \u2018remote deposition\u2019<\/em><\/strong><\/p>\n<p>The FTX bankruptcy froze millions worth of company funds, including firms like New Huo <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> and Nestcoin. Galois Capital is also one of the many victims of the FTX debacle, with at least $50 million in funds stuck in the exchange. <\/p>\n<p>Meanwhile, similar to Galois Capital\u2019s approach, the largest Mt. Gox creditor has also chosen an early payout option instead of waiting for a lengthy legal process that could potentially take years. On Feb. 17, Mt. Gox Investment Fund said that it chose to be paid in September instead of waiting longer to get its assets back. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/hedge-fund-closes-operations-after-losing-funds-in-ftx-exchange-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Hedge fund closes operations after losing funds in FTX exchange: Report &#8220; Hedge fund Galois Capital, one of the victims of the FTX collapse, has thrown in the towel after half of its assets got trapped in the bankrupt exchange. The fund has finally decided to shut down and return its remaining assets to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":554153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/eb039b0d-3adb-4e6c-b633-089269f1d9b0.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,132789,4978,117],"class_list":["post-554152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-hedge-fund","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=554152"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/554153"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=554152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=554152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=554152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}