Over the last year, the assets managed by Galaxy Digital under the leadership of Michael Novogratz have significantly increased, reaching a mark of 5.3 billion dollars, up from the previous 1.7 billion. This news was reported by Financial Times.
The growth in assets is primarily linked to the decision of FTX administrators who, in August, chose Galaxy Digital to manage a portion of the assets of the bankrupt cryptocurrency exchange. Consequently, Galaxy Digital has shown interest in acquiring other financially unstable companies.
Steve Kurz, the head of asset management at Galaxy Digital, emphasized that the company has a team specializing in cryptocurrency venture investments, which has been actively investing the company's funds over the last five years. He also noted that potential investment targets could include companies specializing in real estate and new technologies, including artificial intelligence, such as the Anthropic startup from the FTX venture portfolio.
Furthermore, in October, Galaxy Digital, in collaboration with Invesco, applied to the U.S. Securities and Exchange Commission for the creation of an ETF based on Ethereum. In December, Galaxy Digital, in partnership with DWS Group, founded by Deutsche Bank, and market maker Flow Traders, announced plans to launch a stablecoin tied to the euro.
