Top managers from Galaxy Digital and Genesis will launch a $500 million crypto fund

A group of executives from Galaxy Digital, Genesis and Convex Trading have filed with the SEC to register a $500 million DBA Crypto Fund I LP.

The company has not yet raised funds.

The general partners of the structure wereMichael Jordan, Co-Chair of Galaxy Digital Investments; Joshua Lim, Head of Derivatives at Genesis; Roshun Patel, former Genesis Vice President of Trading; and Shane Barratt, CEO and Co-Founder of Convex Trading.

Axios noted that the fund will be led by specialists from companies affected by the collapse of Terra and the problems of the hedge fund Three Arrows Capital.

Recall that in July it became known that the lastowed $2.36 billion to Genesis Trading. The OTC platform was supported by its parent company, Digital Currency Group, which assumed certain obligations.

In August, the firm's CEO Michael Moreau stepped down from his position after seven years on the job. Genesis Trading has made major changes in the management team.

Galaxy Digital became one of the investors of Terraform Labs, which created the Terra ecosystem. The company also appeared on the list of creditors of Three Arrows Capital.

Read ForkLog's bitcoin news on our Telegram — cryptocurrency news, rates, and analytics.