How much of Galois capital's funds are stuck on FTX?

Crypto hedge fund Galois Capital told CoinDesk in a Telegram message on Saturday that around half of its funds are stuck on FTX, the beleaguered crypto exchange which filed for chapter 11 bankruptcy protection on Friday. The funds locked in FTX total around $40 million, Galois co-founder Kevin Zhou said.

Is half of the hedge fund's capital trapped on FTX?

According to the co-founder of Galois Capital, the hedge fund manager who warned about the Terra collapse before it happened, half of the hedge fund’s capital is left trapped on FTX. Galois co-founder, Kevin Zhou, wrote a letter to investors explaining the situation and said he was “deeply sorry” about the turn of events.

Who is Galois capital?

REUTERS/Dado Ruvic/Illustration Nov 12 (Reuters) - Galois Capital is the latest hedge fund caught off guard after close to half its assets were trapped on collapsed crypto exchange FTX, the Financial Times said on Saturday, estimating the amount to be around $100 million.

What happened to FTX funds?

FTX funds stolen from the bankrupt crypto exchange on 11 November have reportedly been moved, with the thief looking to convert the looted Ethereum ( ETH) into Bitcoin ( BTC) as part of their cash out strategy. This comes days after FTX filed for bankruptcy, with the native FTX token having dumped more than 90% in a week of chaos for crypto.