Mike Novogratz News

Mike Novogratz’s Galaxy Ventures Fund I is set to raise past its $150 million target despite headwinds for crypto venture capital.

Galaxy says it chose Delaware for the relocation because it would provide a favourable corporate environment to help it compete with other publicly traded companies.

Galaxy Digital will pay $200 million to settle allegations of promoting collapsed crypto Terra without disclosure, as the NY AG claimed it spread false information.

State Street believes the “next level of growth” will come from investment options offering more than “pure spot” Bitcoin.

Galaxy Digital’s venture arm is in the initial phases of spinning up a $100 million fund, joining other VCs who are rushing back into crypto.

The firm attributed the change in fortune to the changing market conditions from bearish to bullish, with AUM nearly doubling in the first two months of 2024.

Galaxy’s asset management arm partially attributed the milestone to its spot Bitcoin ETF with Invesco, though inflows have been low.

Galaxy Digital CEO Mike Novogratz believes Binance has satisfied regulators and users after its $4.3 billion settlement with United States authorities.

Galaxy Digital founder and CEO Mike Novogratz says approving a Bitcoin spot ETF is not “a matter of if but when,” which will drive institutional investment in the sector.

Galaxy Digital is set to manage the sale of bankrupt FTX’s crypto holdings and facilitate the staking of certain tokens to generate passive yield.

“We’re going to fight like cats and dogs to win market share” once spot Bitcoin ETFs are approved, Galaxy Digital CEO Mike Novogratz told shareholders.

During a recent interview with Bloomberg Wealth, Novogratz touched on topics ranging from investing to Ripple’s case and BlackRock CEO Larry Fink.

The Galaxy Digital founder believes approval of a spot Bitcoin ETF would essentially be a United States regulator and government nod for Bitcoin.

Vice Chancellor J. Travis Laster of the Delaware Court of Chancery said Galaxy had a “clean termination right” to the acquisition of BitGo, which it announced in 2022.

The Galaxy Digital CEO says there has been a recent lack of institutional interest in cryptocurrency buying, which has led to deflated enthusiasm in the markets.