Bankrupt crypto exchange FTX hires Mike Novogratz’s Galaxy to help manage its digital assets holdings.
FTX hires Galaxy as an advisor to help hedge and sell its crypto holdings, according to court filings. It will also help stake FTX’s digital assets to earn interest.
«Galaxy Asset Management has extensive experience in areas relevant to digital asset management and trading, including with respect to the types of transactions and investment objectives contemplated,» the filing said about Galaxy’s investment advisory arm.
New York-based Galaxy was founded in 2018 and is owned by American billionaire investor Mike Novogratz. FTX filed for bankruptcy in November 2022 and it continues to undergo legal proceedings, alongside founder Sam Bankman-Fried.
