Galois Capital Fund, launched by Kevin Zhou, a veteran of Kraken, is one of the first group to blame Terra (LUNA) in the first quarter of 2022. The fund skillfully prevented the loss of assets in the May crash, and even became the scapegoat for the FTX crash.
According to an article in the Financial Times, a top news media, Galois Capital lost nearly 50% of its assets in the FTX crash. Due to its asset management scale of $200 million (the third quarter of 2022), the loss is likely to be close to $100 million.
According to a letter to Galois Capital employees shared with the Financial Times, the founders have tried their best to mitigate the losses of investors - they even managed to obtain some assets from FTX, the down trading center.
Galois Capital recognized the huge loss on its official Twitter account, but it also showed that the Bahamas did not use all laws to recover assets:
Galois Capital made headlines in early 2022 because he criticized Terra (LUNA) blockchain technology, its guidance agreement (ANC) and TerraUSD (UST) stable currency. Galois Capital predicted the collapse of Terra's ecosystem and warned shareholders and investors not to introduce liquidity to Terra's commodities.
In addition, the elite team of Galois Capital claimed that this loss was not fatal to the physical line. According to the social network account of the fund, the relevant parties have been making profits since the foundation of the fund.
In the end, the fund has no liabilities, so the downward pull will only seriously affect its ownership. The group is already working on a repair plan, but it may take "many years" to partially cover the loss.
Galois Capital is one of the world's largest quantitative investment funds with cryptocurrency as the main content, and is a famous market maker in the cryptocurrency field.