Mike Novogratz reduces staff

Cryptocurrency trading Bank billionaire Mike Novogratz Galaxy Digital fired 13 employees, or approximately 15% of the staff. It is reported by CoinDesk, citing its own sources.

Layoffs have touched upon different divisions of the new York companies, including asset management, trading, investment and consulting. None of the areas of business, the Bank is not closed.

In the state of Digital Galaxy there are about 80 people, the company also has several job openings. According to one of interlocutors of the edition, the Bank hired the employees, hoping that the markets of digital assets will grow faster.

For the first nine months of 2019 Galaxy Digital reported net profit of $58,4 million, despite the loss of $68.2 million in the third quarter. In 2018, the Bank’s losses for the first three quarters amounted to almost $176 million, of which over third — $77 million

Running Galaxy Digital on 30 September was digital assets for $133 million the cost of the entire investment portfolio amounted to $336 million

In may last year, the Bank sold a share in a startup Block.one for $71.2 million, the Profitability of the transaction amounted to 123%.



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