Novogratz Buys Another 2.7% of His Galaxy Digital Crypto Fund for $5 Million
Michael Novogratz has increased his stake in Galaxy Digital Holdings, Ltd. to nearly 80 percent.
XRP will have another lackluster year in 2020, Galaxy Digital CEO (and Ripple shareholder) Mike Novogratz told a roomful of financial advisers.
Galaxy Digital, the crypto fund founded by Michael Novogratz, lost $272.7 million in its first full year of operation.
Galaxy Digital is working on a project that may lead to institutions adopting crypto as an asset class. And the firm needs it, Mike Novogratz says.
Blockchain and crypto security firm CipherTrace has raised $15 million in funding from investors including Mike Novogratz's Galaxy Digital.
Michael Novogratz's crypto merchant bank Galaxy Digital is raising $250 million to build a credit fund, according to Business Insider.