Galois Capital, a hedge fund, has decided to shut down, returning 90% of its clients' funds that were not trapped in FTX.

The Financial Times reported that hedge fund Galois Capital has decided to cease all trading, close out all positions, and return 90% of funds not trapped on FTX to clients after shutting down the fund. The remaining 10% will be temporarily held until discussions with managers and auditors are finalized. Co-founder Kevin Zhou stated, "Given the severity of the FTX situation, we believe that continuing to operate the fund financially and culturally is untenable." He expressed a preference to sell the fund's claims against FTX rather than go through lengthy legal proceedings. Since Galois sent out the communication, its claims have been sold at approximately 16 cents.

The Financial Times reported that hedge fund Galois Capital has decided to cease all trading, close all positions, and return 90% of funds not trapped on FTX to clients upon the fund's closure, with the remaining 10% temporarily held until discussions with managers and auditors are finalized. Co-founder Kevin Zhou stated, "Given the severity of the FTX situation, we believe continuing to operate the fund financially and culturally is untenable." He expressed a preference to sell the fund's claims against FTX rather than going through a lengthy legal process. Since Galois sent out the communication, its claims have been sold at a price of around 16 cents.

Earlier reports indicated that on November 12, 2022, hedge fund Galois Capital co-founder Kevin Zhou informed investors that nearly half of the company's assets were trapped on the FTX platform and inaccessible for withdrawal, with Galois Capital managing over $200 million in assets.

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