Galaxy Digital will raise $ 50 million …

Galaxy Digital will raise $ 50 million for the development of institutional services in the cryptocurrency industry

Mike Novogratz’s company Galaxy Digital Holdings Ltd. announced a $ 50 million private fundraising round. It is expected to be completed in November 2020 following approval by the Toronto Stock Exchange.

Investors such as Slate Path Capital LP, CI Investments, NZ Funds and Corriente Advisors have expressed their willingness to provide the company with the required amount in exchange for its own shares. Galaxy Digital will leverage the raised funding to cover operating costs and launch new products, with particular attention to the needs of institutional investors.

“The growth in funding from established investors is further confirmation of the correctness of Galaxy Digital’s chosen strategy to create a channel to connect institutional investors from traditional finance to cryptocurrency markets,” said Christopher Ferraro, President of Galaxy Digital. – 2020 has witnessed widespread institutional acceptance of blockchain and cryptocurrencies. We are experiencing significant growth in demand from institutions for crypto-related financial products and services “.

Galaxy Digital will raise $ 50 million ...

The company has raised $ 700 million to date, according to Galaxy Digital’s LinkedIn page..

“Given the risks, it is easier to bet on bitcoin now than it has ever been before. The level of risk is decreasing every day, “Novogratz wrote recently..

Galaxy Digital will raise $ 50 million ...

Similar articles

  • Fidelity Digital Assets intends…

    Fidelity Digital Assets intends to add Ethereum support in 2020 Fidelity Digital Assets (FDAS) may add Ethereum support subject to…

  • Crypto fund Electric Capital attracted…

    Crypto fund Electric Capital raised $ 110 million, of which 90% – from institutional investors Venture crypto company Electric Capital raised $ 110 million…

  • Blockstack Raised $ 50 Million Through…

    Blockstack Raises $ 50 Million Through ICO Supported by Winklevoss Brothers Blockstack Startup Announces Successful ICO Completion After Raising $ 50 Million And Sale…

  • Crypto broker Tagomi raised $ 12…

    Crypto broker Tagomi raised $ 12 million with the participation of Paradigm, Pantera and Multicoin funds Tagomi primary brokerage cryptocurrency service raised $ 12 million…

  • Algorand Foundation Raises $ 200 Million…

    Algorand fund raised $ 200 million to develop its blockchain ecosystem Algo Capital raised $ 200 million for its venture fund, writes…