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Zhou's statement, released on Twitter, confirmed a report in the
Financial Times that the hedge fund had decided to close its
main fund and return its money to investors.
FTX, once among the world's top crypto exchanges, shook the
sector in November by filing for bankruptcy, leaving an
estimated nine million customers and investors facing billions
of dollars in losses.
In his tweet, Zhou also said Galois Capital had lost almost half
of its assets "to the FTX disaster".
Zhou told the fund's investors, according to the Financial Times
report, that the money stuck in FTX was worth around half of the
hedge fund's $200 million in assets.
The newspaper report cited an investor letter which said the
hedge fund was no longer viable, had stopped trading and exited
its positions.
After rapid gains during the pandemic, the cryptocurrency market
plunged in 2022 as rising interest rates and a series of
high-profile collapses at crypto firms prompted investors to
ditch risky assets.
The value of all cryptocurrencies is around $1.2 trillion, down
from a peak of $3 trillion in November 2021, according to market
tracker CoinGecko.
(Reporting by Nell Mackenzie and Elizabeth Howcroft; Editing by
Dhara Ranasinghe and Mark Potter)
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