Galaxy Digital is a digital asset merchant bank founded in 2018 by former hedge fund manager Michael Novogratz. The firm offers multiple services including asset management, advisory services for businesses, trading and principal investing in companies ranging from seed stage ventures to those in full operation.
Galaxy Digital’s portfolio includes major companies such as Bakkt, Block.one, BlockFi and Ripple, among others. While Galaxy Digital Trading offers clients the ability to trade crypto assets on their platform, with a focus on bitcoin, ether, bitcoin cash, litecoin, monero, dash, ethereum classic, zcash and bitcoin gold.
In January 2018, Galaxy Digital teamed up with Block.one – the team behind the EOS blockchain, to create the $325 million EOSIO Ecosystem Fund. The fund’s primary goal is to back startup companies that utilize the EOSIO blockchain.
In May 2018, Bloomberg launched a crypto index with Galaxy Digital which tracks the performance of nine cryptocurrencies, including bitcoin, ethereum, and XRP, among others.
In May 2019, Block.one started a buyback program of 10 percent of its company’s shares and Galaxy Digital received $71 million for its shares.
Read more about
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.