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Novogratz-Backed Cryptology Asset Group Invests $49M More in Block.one

Publicly traded Cryptology was already one of Block.one's largest backers. It now has a holding of about 4.9%.

Jun 24, 2021 at 12:04 p.m. UTC
Updated Sep 14, 2021 at 1:16 p.m. UTC

Cryptology Asset Group, a European investment company backed by Galaxy Digital founder Mike Novogratz, made an additional $49 million investment in Block.one.

  • Publicly traded Cryptology was already one of Block.one's largest institutional backers, and now owns about 4.9% of the firm, an announcement Thursday said.
  • Currently listed in Germany, Cryptology is exploring an international listing to increase liquidity and open up to new shareholder groups, the announcement added. It plans to split its stock, currently trading about €145 (US$170) a share, by issuing 20 new shares for each existing one, it said in a statement.
  • Last month, Block.one launched Bullish, a venture focused on unveiling a new crypto exchange later this year capitalized with over $10 billion in cash and digital assets, including 164,000 BTC.
  • Bullish is already in talks to go public by merging with fintech-focused SPAC Far Peak Acquisition, after Bullish was announced a little over a month ago.
  • Cryptology announced earlier this month it was looking to pour $100 million into crypto venture funds over the next two years. Billionaire founder Christian Angermayer said it would focus on taking equity stakes in blockchain and crypto-related business on a global scale.

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