Galois Capital, a defunct crypto hedge fund, settled with the SEC in September 2024 for $225,000. The settlement was made due to “deficiencies in oversight” in securing client assets. This highlights the SEC’s intentions to regulate digital asset custody and the area. 📉

The SEC noted that Galois Capital did not hold crypto assets with a qualified custodian. This is an important warning for investment advisors. Let’s discuss it in the comments for more information! 💬