Tyr Capital Partners, a crypto hedge fund based in Switzerland, is facing accusations of mismanagement from an investor, according to a Financial Times report.
Swiss prosecutors have initiated a search of the firm following allegations that started in August 2023 that Tyr Capital disregarded early warnings regarding the collapse of the FTX exchange.
Tyr Capital Partners Faces Legal Action
The legal allegations against Tyr Capital Partners were initiated by a hedge fund, TGT, that invested with the company. TGT has alleged the former negligence in addressing early warnings regarding the collapse of the FTX exchange, which has led Swiss prosecutors to investigate Tyr.
The plaintiff, TGT, is seeking to liquidate the portfolio and assume control of the remaining assets held by Tyr, which notably includes a $22 million claim against FTX. TGT claims to have cautioned Tyr’s chief investment officer, Edouard Hindi, about the financial instability of FTX between November 7 and November 10, 20
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