Galaxy Digital

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Galaxy Digital Holdings Ltd.
Galaxy digital-jpg.jpg
Founded 2018
Headquarters New York, NY
Key People Michael Novogratz, Founder and CEO; Rich Tavoso, President; Julie Coin, COO; Steve Kelso, Head of Europe
Employees 50-200
Products Digital asset trading services, asset management, investment mangagement
LinkedIn Profile
Website Galaxy Digital Home
Releases Company News

Galaxy Digital is a merchant bank specializing in digital assets.[1] It is an American company that seeks to institutionalize the digital asset and blockchain space, providing asset management, investing, advisory and trading services.[2][3]

History

Galaxy Digital was founded by Michael Novogratz in January 2018. Since then, it has entered into business partnership with several companies to create institutional-grade cryptocurrency and blockchain products and services.[4]

In late January 2018, the company announced a joint venture with Block.one to create a $325 million fund in order to develop the EOS digital ecosystem.[5]

In June 2018, Galaxy Digital partnered with High Fidelity, an open-source distributed ledger virtual reality gaming platform.[6]

In July, the company announced a partnership with BlockFi, a company that offers fiat currency loans to digital asset holders to collateralize their loans with crypto. Galaxy Digital invested $52.5 million in venture capital.[7][8] Later that month, the company announced that, mostly due to declining prices of crypto assets, it had lost $134 million in Q1 of 2018.[9]

In November 2018, Galaxy Digital announced that it had hired Ian Taylor, former real estate banker from Goldman Sachs, to help run a new branch of Galaxy's business involving the tokenization of real estate.[10] The same month, Galaxy Digital reported a $76.65 million loss for Q3 of 2018.[11]

In January 2019, Galaxy participated in the series B round of investment for Symbiont. The round was led by Nasdaq and Citigroup Inc..[12]

Referring to the battle of Winterfell in the "Game of Thrones's" The Long Night, Novogratz told online crypto industry publication The Block that the final quarter of the year for the crypto industry “felt a little bit like watching Game of Thrones last night."[13] Novogratz discolosed a $97 million loss for the quarter bringing the full year loss to $272.7 million for 2018.[14]

Key People

  • Michael Novogratz - Founder and CEO
  • Rich Tavoso - President
  • Julie Coin - COO
  • Steve Kelso - Head of Europe


References