Crypto hedge fund Galois_Capital says it has $40 million stuck on FTX_Official, with the firm now considering its future prospects. skesslr reports
Galois earned acclaim earlier this year for predicting the crash of Terra, the stablecoin ecosystem whose $60 billion collapse was one of the key reasons behind crypto's plunge into its present bear market.
In a letter to Galois investors, Zhou wrote that it could take “a few years” for the firm to recover “some percentage” of its funds. “We will work tirelessly to maximize our chances of recovering stuck capital by any means,” he told investors. Things started to go sour for FTX when leaked documents uncovered by CoinDesk showed that the firm’s sister company, Alameda Research, was collateralizing loans with illiquid tokens – including FTX’s own FTT token.
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