Top executives from Galaxy Digital and Genesis to launch a $500 million crypto fund

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

The company has not yet raised any funds.

The general partners of the vehicle are Galaxy Digital’s Co-Chair of Investments Michael Jordan, Genesis’ head of derivatives Joshua Lim, former Genesis Vice President of Trading Roshun Patel, 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 by the problems at the hedge fund Three Arrows Capital.

Earlier, in July it was disclosed that the latter owed Genesis Trading $2.36 billion. Support for the OTC platform was provided by its parent company Digital Currency Group, which assumed certain obligations.

In August, the firm’s CEO Michael Moro left his position after seven years. Genesis Trading carried out significant leadership reshuffles.

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

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, prices and analysis.