NEW YORK,
Nov. 9, 2018 /CNW/
- Galaxy Digital Holdings Ltd. (TSXV: GLXY;
Frankfurt: 7LX) ("Galaxy Digital"
or the "Company"), a diversified, multi-service merchant bank
dedicated to the digital assets and blockchain technology industry,
today announced several strategic operational and organizational
changes.
"The industry underlying digital assets and blockchain
technology continues to evolve. We remain optimistic on the
space overall yet recognize we need to reposition our Company to
capitalize on the changing landscape," said Mike Novogratz, CEO and Founder of Galaxy
Digital.
As part of Galaxy Digital's operational and organizational
changes:
- The Company is adapting to the regulatory framework and the
opportunities it is currently seeing, and therefore repositioning
its Advisory business from focusing on small ICO advisory and
blockchain consulting to instead serve larger, more institutional
clients in the space. To that end, the Company is shutting down its
Vancouver office, and will be
adding to its New York-based
team.
- Richard Tavoso is transitioning
out of his current role as President of Galaxy Digital at the end
of the year. He will continue to serve as a trusted advisor and a
member of the Board of Managers of Galaxy Digital Holdings GP LLC.
Mr. Tavoso has been instrumental in the formation and launch of
Galaxy Digital and the Company looks forward to his continued
involvement.
- David Namdar, Co-Head of
Trading, will be leaving Galaxy Digital to pursue other
opportunities. Peter Wisniewski,
Co-Head of Trading, has been a key part of the Firm's trading
business since inception, and will seamlessly assume responsibility
and oversight of the Company's day-to-day trading activities.
"I would like to thank Richard
Tavoso and David Namdar for
all of their work and support in helping to launch and build our
Company," added Novogratz. "I look forward to continuing to
work with both, Richard as a Director at Galaxy and David, as a key
member of the crypto community."
About Galaxy Digital
Galaxy Digital is a
diversified, multi-service merchant bank dedicated to the digital
assets and blockchain technology industry. Galaxy Digital's
team has extensive experience spanning investing, portfolio
management, capital markets, operations, asset management, and
blockchain technology. Galaxy Digital currently operates four
distinct business lines, which include: Trading, Asset Management,
Principal Investments and Advisory Services. Galaxy Digital's
CEO and Founder is Michael
Novogratz. The Company is headquartered in
New York City, with offices in
Tokyo, Hong Kong, the Cayman Islands (registered office) and New
Jersey. Additional information about the Company is available
on www.galaxydigital.io.
Disclaimers
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this press release.
Certain information in this press release, including statements
about the Company's plans for the Advisory business, may constitute
forward-looking statements, which can be identified by the use of
terms such as "may," "will," "should," "expect," "anticipate,"
"project," "estimate," "intend," "continue" or "believe" (or the
negatives) or other variations. Because of various risks and
uncertainties, including those referenced below, actual events or
outcomes may differ materially from those reflected or contemplated
in such forward-looking statements. As a result, you should not
rely on such forward-looking statements. Additional information
identifying assumptions, risks and uncertainties relating to Galaxy
Digital is contained in Galaxy Digital's filings with the Canadian
securities regulators available at www.sedar.com. These risks
include those discussed in the risk factors section in the Notice
of Annual and Special Meeting of Shareholders and Management
Information Circular dated May 14,
2018. The forward-looking statements in this press release
are applicable only as of the date of this press release and the
Company does not undertake any obligation to update any
forward-looking statements.
SOURCE Galaxy Digital Holdings Ltd.