Galois Capital Confirms Failure and Does Not Plan to Set Up Any New Funds
Key Points:Galois Capital confirms that their fund has ceased operation.
The fund also stated that no new funds would ever be created and could not divulge details of advanced transactions related the selling of the FTX claim.
For more information, contact large claimants if you need advice on selling your claim.
Galois Capital made an official announcement about the fund’s closure shortly after the Financial Times report. Galois said that they had lost nearly half of their assets to the FTX catastrophe. Then, the requested US dollars were purchased. However, the foundation also stated that they would not be launching any new funds. Finally, they will have to sign a strict non-disclosure contract with BTIG regarding the sale. I will not reveal the terms of the deal, nor the price or the date of the sale. Galois has been working with Schulte Roth, BTIG, and other experts on the auction. Galois has worked with Schulte Roth and BTIG to organize an auction. Translated by Bankman-Fried.Although, according to founder Kevin Zhou they are only about $40 million, according to a Financial Times investigation, this figure could be as high as $100 million.Investors will receive 90% of the available funds not stuck on the defunct cryptocurrency exchange. The remaining 10% will be temporarily held by Galois until discussions with governance members and auditors are completed.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuFoxyCoincu NewsTags: # Cryptocurrencies#MarketsBlockchaincryptoGalois Capital