Galois Capital Closes Down With Positive Performance

02/21/2023 02:28 • Blockchain Briefs • 83 views

On February 21st, Galois Capital said on Twitter: “Our flagship fund is indeed going to close down. Nevertheless, I am proud to say that although we lost nearly half of our assets due to the FTX disaster and then sold our claims at the price of US dollars, we are one of the few companies that have closed down with positive performance so far. Although this is the end of the Galois era, the work we have done together in the past few years has not been in vain. At present, I can only say that. Please continue to close Note. Seeing some comments about our bankruptcy, I just want to clarify two things. First of all, we will not establish a new fund.

Galois Capital: No new fund will be established, and the details of the transaction to sell FTX claims cannot be disclosed

Analysis based on this information:

Galois Capital, the cryptocurrency investment firm, announced on February 21st their flagship fund is to close down following heavy losses endured from the FTX disaster. Despite losing nearly half of their assets, Galois Capital declared that they are proud of their achievements as they have managed to close down with positive performance. It is noteworthy that Galois Capital is one of the few companies that have managed to close down with such results so far.

The CEO of Galois Capital stated that although the Galois era may have come to an end, the work they have achieved together over the past few years has not been in vain. He encouraged clients to continue to take note of their work in the future. The announcement was made through their Twitter handle, which was flooded with comments from clients asking for clarification. The CEO addressed the comments, stating that they are not establishing a new fund.

The FTX disaster referred to by Galois Capital as the reason for the closure is the flash crash that saw several highly-leveraged tokens lose up to 90 percent of their value in just a few hours. The unprecedented event saw the liquidation of many traders in the market. Galois Capital was not immune to the disaster and had to sell claims at the price of US dollars to offload their exposure to the highly-leveraged tokens.

The announcement of Galois Capital’s closure is another reminder of the volatile nature of the cryptocurrency market, and how it can devastate even the most seasoned of industry veterans. However, the positive performance exhibited by Galois Capital in closing down their flagship fund is a testament to their expertise in investment management. Even in a market as volatile as the cryptocurrency market, it is possible to close down and still have positive results.

In conclusion, Galois Capital has closed down its flagship fund with positive results despite the losses suffered from the FTX disaster. The CEO addressed the concerns of their clients by stating that they will not establish a new fund. The announcement of Galois Capital’s closure highlights the volatile nature of the cryptocurrency market, but also shows that it is possible to close down with positive performance.

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Galois Capital Closes Down With Positive Performance

Galois Capital: No new fund will be established, and the details of the transaction to sell FTX claims cannot be disclosed

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