Original article in French >
https://journalducoin.com/altcoins/novogratz-possede-maintenant-80-des-parts-du-crypto-fonds-galaxy-digital/Translation:
Novogratz now owns 80% of the shares of Galaxy Digital (crypto fund)"Put your money where your mouth is." - Bloomberg released the news on January 2: Mike Novogratz, the founder of the investment fund Galaxy Digital, increased his stake in his company. Using an additional 2.7% of the pie for $ 5.5 million, he now approaches 80% of the total under his own control. A situation that any crypto fan should find... interesting, maybe even weating in big drops as it is often the case when someone is counting beyond 51.
A hectic year for the companyThis news falls as the path taken by the Galaxy Digital Fund has been agitated lately, to say the least.
We announced to you recently the departure of a number of the figures occupying the management positions, with a total of nearly 5 departures since the summer: so were, at the time, the Director General, the Director of Finance, one of the leading venture capitalists, as well as most recently the co-head of the trading section and the president of the company in person.
A wave of professional opportunities having appeared, no doubt.
To make matters worse, the company came up against the harsh reality of the market. Listed by a sleek clever trick on the Canadian regulated TSX Venture Exchange platform, its price fell by 19% over the past 2018 year.
This difficult environment, coupled with announced losses of $ 136 million in the first three quarters of 2018, do not stop Mike Novogratz.
Prior to the purchase, the latter thus owned 76.6% of the shares overall, notwithstanding the different types of financial securities under its control. After his new major operation, he is at the head of exactly 79.3% stake in Galaxy Digital.
We can not blame crypto-enthusiast Mike Novogratz for not acting in line with the ideas he preaches. He has made numerous bullish forecasts about the price of Bitcoin and other cryptocurrencies, he now positions himself as the only master aboard the ship Enterprise cryptogalaxy.
