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Home»ADOPTION NEWS»Galaxy Digital’s assets under management triple as it notes holdings in other bankrupt cryptocurrency companies: Financial Times
ADOPTION NEWS

Galaxy Digital’s assets under management triple as it notes holdings in other bankrupt cryptocurrency companies: Financial Times

By Crypto FlexsDecember 19, 20232 Mins Read
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Galaxy Digital’s assets under management triple as it notes holdings in other bankrupt cryptocurrency companies: Financial Times
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Assets under management at Mike Novogratz’s Galaxy Digital have tripled from $1.7 billion a year ago to $5.3 billion now, said Steve Kurtz, head of global asset management, in the Financial Times. It was reported on Monday, citing an interview with Kurz.

The increase follows the selection of Galaxy by FTX’s bankruptcy estate manager last August to manage certain holdings of the failed cryptocurrency exchange. Now the company is interested in acquiring the assets of other bankrupt companies.

“We have a cryptocurrency venture team that has been investing on our balance sheet for five years,” Kurz told the FT. A potential target could be FTX’s VC portfolio of real estate and technology companies, which includes a stake in AI startup Anthropic.

“Our track record in the asset management business means we are the right candidates for that job,” Kurz continued.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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