Mike Novogratz’s Galaxy receives New York BitLicense for institutional crypto push
Galaxy Digital became the second company this year to secure a New York BitLicense, following Strike’s approval in March.
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Galaxy Digital
Galaxy Digital became the second company this year to secure a New York BitLicense, following Strike’s approval in March.
Mike Novogratz’s crypto financial services firm said unauthorized access was limited to a segregated R&D workspace; trading systems and client accounts were unaffected.
Digital asset treasuries have become all the rage recently, with many firms copying the strategy popularized by Michael Saylor’s bitcoin (BTC) holding firm Strategy.
Galaxy, SharpLink, BitMine were among the names that plunged nearly 10% as risk appetite faded and bitcoin sunk to $113,000.
Prince will work closely with the firm’s president, Chris Ferraro, to expand Galaxy’s crypto offering.
The firm’s current chief financial officer, Alex Ioffe, will transition into a senior advisor role.
Scared away by the various crypto collapses in 2022, institutional allocators have yet to make a comeback.
Telegram and Pavel Durov were probably resisting takedown or information requests from Europe or France, the report said.
The crypto market pulled back from the first-quarter’s record highs during the three-month period.
By acquiring substantially all the assets of the blockchain node operator, the publicly traded Galaxy Digital will increase its role in Ethereum staking, as part of a broader effort to expand in the business of blockchain infrastructure.