Mike Novogratz’s digital asset financial services firm Galaxy Digital posted a net income of $296 million for the full year 2023, according to its recently released financial statement. This was a significant turnaround after a $1 billion loss in 2022. The company said that Q4 of 2023 was particularly game-changing for the company. In its...Read More
As Bitcoin surges toward its previous all-time high, industry experts are anticipating a correction before the digital asset can continue its upward trajectory. Mike Novogratz, founder of Galaxy Digital, shared his insights with Bloomberg TV, suggesting that while Bitcoin has soared past the $60,000 mark this week, a correction is likely imminent. Bitcoin Enters “Price...Read More
In a major milestone, Bitcoin rallied past $63,000 this week before retreating to the press time price of around $62,000. Over the past month, the asset has recorded an impressive 46% gain as it edged closer to surpassing its previous all-time high. Despite the massive bullish momentum, the chances of correction depict a cautionary tale....Read More
Michael Novogratz, the founder of Galaxy Digital, expressed his opinion on Senator Elizabeth Warren’s stance against the cryptocurrency space on X. The post comes in response to Warren’s announcement of additional support from her colleagues for the Digital Asset Anti-Money Laundering Act, a bipartisan bill aiming to address concerns about the use of cryptocurrencies in...Read More
Amid increased regulatory scrutiny in the United States, Europe has become an attractive destination for crypto firms. Galaxy Digital, the crypto venture led by US billionaire Mike Novogratz, is now venturing into the European market for greener pastures. As part of this expansion, the company has appointed Leon Marshall, formerly an executive at the crypto...Read More
FTX intends to initiate the sale, staking, and hedging of its crypto assets. For this purpose, the bankrupt crypto exchange is seeking to rope in Mike Novogratz and Galaxy Digital as its investment advisers as part of its ‘Digital Asset Management and Monetization Program.’ Implementing hedging strategies for Bitcoin and Ether will serve as a...Read More
In spite of the game of snakes and ladders that the crypto market has been playing for the past two years, Mike Novogratz feels that the troubles faced by the industry are coming to an end due to recent developments. In an interview conducted at the Galaxy offices, Novogratz shared his thoughts on BlackRock’s spot...Read More
Crypto investor and Galaxy Digital CEO Mike Novogratz told followers on Wednesday to “Buy BTC” in response to the United States government’s rapidly growing interest expense on its sovereign debt. To some analysts, the trend suggests that the Federal Reserve will be forced to lower its benchmark interest rate again if the Federal government can...Read More
Michael Novogratz, the founder and CEO of Galaxy Digital, believes the crypto space is lackadaisical right now due to low participation from institutional investors. During an interview with CNBC, the American investor said the market lacks enthusiasm as most of the recent activities in the space are coming from retail buyers while large-scale players are withdrawing. “Quite...Read More
Galaxy Digital turned profitable in the first quarter of the year as the markets improved. Its founder and CEO, Michael Novogratz, revealed that the crypto financial services firm ended Q1 2023 with a liquidity position of $814 million. According to an official press release, Galaxy Digital reported $134 million in net income for the same...Read More
Mike Novogratz – the CEO of Galaxy Digital – opined that China’s less hostile stance on the crypto industry could be one reason behind bitcoin’s possible price increase in the next several months. The Hong Kong subsidiaries of some leading Chinese banks have recently offered their services to local cryptocurrency businesses. Novogratz’s Bullish Forecast The...Read More
The Galaxy Digital founder and chief executive said he expects Bitcoin prices to reach $30,000 by the end of March. Speaking at a Bank of America conference on Feb. 15, Novogratz said: “When I look at the price action, when I look at the excitement of the customers calling, the FOMO building up, it wouldn’t...Read More
Mike Novogratz – the CEO of Galaxy Digital – praised his company’s decision to purchase the bitcoin mining facility – Helios. The firm recently won the auction to acquire another cryptocurrency entity – the blockchain cybersecurity platform GK8. ‘Long-Term Believers in BTC’ In a recent tweet, Novogratz justified the Helios’ acquisition with the fact that...Read More
Galaxy Digital has won the auction for GK8 – a crypto custody platform to be sold as part of bankruptcy proceedings for the insolvent crypto lender Celsius. Galaxy will utilize GK8’s custody solution as it develops GalaxyOne – its own institutional prime offering. As announced by Galaxy on Friday, GK8 founders CEO Lior Lamesh and...Read More
In its recently released third-quarter earnings report, crypto financial services firm Galaxy Digital revealed that it holds over $76 million worth of exposure to FTX, the mainstream crypto exchange that is now experiencing a liquidity crisis. Per the report, the $76.8 million of exposure is comprised of both cash and digital assets. Within that, $47.5...Read More
The market downturn has hit digital asset companies across the board, and a large number have resorted to job cuts to remain viable in the current difficult market conditions. The latest to join the lay-off bandwagon is Michael Novogratz-founded Galaxy Digital. Lay-Off at Galaxy Digital Media reports said the New York-based crypto financial services company is...Read More
Financial services company Galaxy Digital Holdings announced that it will no longer pursue its acquisition of the cryptocurrency custody provider BitGo. According to the official release, the decision is because BitGo has failed to deliver audited financial statements from 2021 that are in compliance with the requirements of the agreement. Per the release, no termination...Read More
Michael Novogratz – CEO of Galaxy Digital – recently said that he underestimated the extent to which leverage was circulating in the crypto economy over the past two months. He summarized the process by which large institutions have fallen during the bear market, boiling their failure down to “inane” risk management. Frustration With the Crypto...Read More
Galaxy Digital CEO Mike Novogratz shared his latest insight on the state of the crypto market in an interview with CNBC, predicting that it is close to the bottom after massive leveraged positions were liquidated. However, choppiness may persist in the short term until a bullish narrative reverses the overall sentiment. “$13K BTC?” When asked...Read More
Mike Novogratz, a prominent Bitcoin bull and the CEO of digital asset investment firm Galaxy Digital, noted that cryptocurrencies are here to stay even though it will take a while for the market to turn bullish. Novogratz: Bitcoin Isn’t Going Away The billionaire told Bloomberg in an interview that assets, including crypto and stocks, that...Read More
It’s been a rough start to the week for crypto investors. The total market cap slumped below $1 trillion for the first time in 18 months. Bitcoin spearheaded the crash, falling to $21,000 on Monday, and Ether (ETH) dropped to as low as $1,093. The sell-off worsened after news surfaced that the U.S. Federal Reserve...Read More
CEO of crypto investment firm Galaxy Digital and former hedge fund manager, Mike Novogratz, stated that two-thirds of the crypto hedge funds will fail as a result of the sharp downtown this year in the price of these assets. Future of Crypto Hedge Fund While speaking at the Piper Sandler Global Exchanges & Brokerage Conference...Read More
Litecoin has come in for a lot of criticism over the past two years thanks to its lukewarm movement on the charts. Not only is Litecoin trading at a level that is way off its all-time high of December 2017, but organic developments are far and few to talk about as well. And yet, despite...Read More
As the value of Bitcoin soars and marks new annual highs, Bitcoin’s proponents have been increasing exposure to the digital asset. Galaxy Digital, the crypto merchant bank with Mike Novogratz as its founder and CEO announced that the company was expanding its services in Canada along with CI Global Asset management. According to the announcement,...Read More
2020’s crypto-market is very different from the one back in 2017. However, while it has changed a lot over the ensuing years, there remain two constants – Bitcoin and Ethereum. In fact, the two cryptocurrencies continue to retain the market’s top two positions. The constant reshuffling of the pack fuels the question – How will...Read More
Galaxy Digital chairman Michael Novogratz said that bitcoin is his pick under the current financial situation, describing it as an “amazing environment” to buy bitcoin. With “global money printing orgy,” a possible another trillion-dollar stimulus package, and “money growing on trees,” Novogratz said this is the year for bitcoin. Also read: IMF Declares Global Recession,...Read More
There is never a dull day on crypto twitter with endless drama, criticism, clap backs, and even personal attacks. The latest episode features Bitcoin maximalists and Ripple backers. Mike Novogratz Bashes XRP Ripple (XRP) recently came under a fierce attack by Galaxy Digital CEO Mike Novogratz saying that the cryptocurrency would underperform again this year...Read More
