Galois Capital responds to SEC investigation: Used unqualified custodian Fireblocks, has formulated investor redemption strategy

Odaily Planet Daily News: Cryptocurrency hedge fund Galois Capital responded to the investigation by the U.S. Securities and Exchange Commission (SEC), stating that after nearly two years of comprehensive and costly investigation, without admitting or denying the detailed investigation results in the SEC order, they have agreed to settle with the SEC and pay a fine of $225,000, which will be directly paid to investors. Galois Capital mentioned that they previously used the unqualified custodian Fireblocks as a solution to protect cryptocurrency assets. Although Fireblocks was not a qualified custodian, it was the best solution that met Galois Capital's needs at the time, and the use of Fireblocks was disclosed in the ADV form submitted to the SEC. Galois Capital has developed a redemption strategy for investors, requiring a notice to the redemption party at least five business days before the end of the month.