Crypto Hedge Fund Tyr Capital Accused of Mismanagement

According to the Financial Times, a Swiss investor in the crypto hedge fund, Tyr Capital, accused the firm of mismanagement and alerted Swiss prosecutors after alleging that the firm had disregarded early warnings about the collapse of FTX exchange.

The investor alleged that Tyr only attempted to withdraw assets from FTX after it had filed for bankruptcy in November 2022. TGT, a fund that had invested with Tyr, claimed to have warned the firm about the risks associated with FTX in early November, before its collapse.

TGT, whose directors include Justin Wright and Jason Corbett, co-founders of Yield App, is now seeking to liquidate its portfolio and recover its assets, including a $22 million claim against FTX.

Tyr has not responded to requests for comment, citing ongoing investigations.