### Galois Capital is affected by FTX's fall; says half of its funds are "stuck on FTX" 

Galois Capital is the latest company to get caught up in the troubles of FTX. News outlets are reporting that about half of its funds are trapped on the crypto exchange FTX. Galois co-founder Kevin Zhou estimates the amount to be around $40 million.

Reuters, sourcing data from the Financial Times, [shared](https://www.reuters.com/technology/hedge-fund-galois-capital-says-half-its-capital-stuck-ftx-exchange-ft-2022-11-12/) that Zhou reached out to investors stating that while the fund was able to take out some of the money from the exchange, “roughly half of our capital is stuck on FTX.”

Galois first made headlines this year for predicting the crash of stablecoin Terra, a collapse valued at $60 billion and one of the catalysts of crypto’s current bear market. 

Unfortunately, Galois was not able to do the same with FTX. As per reports, Zhou also wrote to investors that it could take “a few years” for the firm to recover “some percentage” of its funds.

This development is another downturn to hit the beleaguered FTX. Once considered the second-largest cryptocurrency exchange by volume, it is now making headlines for filing for bankruptcy, the resignation of founder Sam Bankman-Fried founder as chief executive, and investigations by the US Securities and Exchange Commission. 

With FTX’s troubles rippling towards Galois, Zhou says that the company is considering its options. If it cannot continue with its normal operations, it may pursue an acquisition or become a proprietary trading shop. 

Hedge Fund Galois Capital is affected by FTX's fall; says half of its funds are "stuck on FTX" 

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Sun Nov 13 2022 Galois Capital Funds are "Stuck on FTX"

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Sun Nov 13 2022

Galois Capital Funds are "Stuck on FTX"