Main page News, Fintech, Michael Novogratz, Credit, Cryptocurrency
Hot topic
Jan. 24, 2019

Michael Novogratz’s crypto bank, Galaxy Digital, is raising $250 million for a crypto-focused credit fund, according to Business Insider.

As it states, the new crypto credit fund will be offering loans to crypto companies and asking for digital assets, properties, and even crypto mining devices. According to people familiar with the matter, Galaxy Digital will close the first round of fundraising in March.

Earlier, Novogratz invested approximately $5 million (7,500,768 ordinary shares) in his crypto-focused fund.

Last year, Galaxy Digital Bank reported about losses at least in $136 million during the whole of 2018. Back then, net realized and unrealized losses at Galaxy Digital totaled about $41 million in the Q3, 2018.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.