Galois Capital Shuts Down with Positive Performance Despite Losses

02/21/2023 02:28 • Metaverse Matters • 121 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

Interpret the above information:

In a brief message on Twitter, Galois Capital announced that their flagship fund is closing down. The closure is due to the loss of nearly half of their assets, which was caused by the FTX disaster. Despite the losses, Galois Capital stated that they are proud to have closed down with positive performance. They sold their claims at the price of US dollars, which allowed them to have a positive balance after paying off their liabilities.

The closure of the Galois Capital is significant because it highlights the risks associated with investing. Even experienced investment firms can suffer significant losses due to unexpected events such as the FTX disaster. Galois Capital showed maturity in the face of their loss by closing down their fund rather than attempting to establish a new one. This announcement was a shock to investors and the financial industry at large, but it was not the end of the road for Galois Capital. The work that they have done in the past few years has not been in vain, and they will continue to advocate for smarter investments in the future.

The message also clarifies that Galois Capital will not establish a new fund, which shows their commitment to putting investors’ interests first. This is an important point to consider since some financial firms may shut down one fund and then start another. Making such a move can create significant reputational risks for the firm, and investors may lack confidence in their ability to manage funds. By not establishing a new fund, Galois Capital is choosing to prioritize investors’ interests and exit the industry altogether.

In conclusion, the closure of Galois Capital’s flagship fund highlights the risks associated with investing. Even experienced firms are not immune to losses from unexpected events. However, the positive performance exhibited by Galois Capital despite the loss of assets is commendable. The firm’s decision to not establish a new fund and prioritizing investors’ interests is a testament to their commitment to ethical and responsible investing.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/1917.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.