Famed hedge fund trader and bitcoin evangelist Mike Novogratz announced today that his Galaxy Digital Ventures is investing $15 million in blockchain startup AlphaPoint, a New York-based company that aims to simplify the way assets are issued on a blockchain by essentially offering customers the technology used to create crypto exchanges.
In this way Novogratz, a onetime billionaire macro-trader for New York City’s Fortress Investment Group, is doubling down on his numerous blockchain and cryptocurrency investments, backing a proverbial pick-and-shovel maker in the budding sector.
AlphaPoint, an early entrant to the cryptocurrency space, already counts customers that include commodities giant CME Group, the Royal Mint of England and more. But with the funds from Novogratz’s newly launched firm, AlphaPoint CEO Salil Donde hopes to expand that to include a wide range of other assets that have traditionally been difficult to trade.
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