Mark Novogratz raised $250 million to develop the cryptocurrency project Galaxy Digital

At the beginning of this year, it became known that former Wall Street hedge fund manager Mark Novogratz announced his intentions to open a cryptocurrency trading bank with the loud name Galaxy Digital. Novogratz has already raised about $250 million for the project, according to a person familiar with the details of the deal.

It also became known that Terry Gou, executive director of Foxconn, is among the investors. According to the Taiwanese publication Economic Daily News, the billionaire invested $18 million in Novogratz's project.

The 53-year-old Novogratz earned money even during the December collapse in prices for Bitcoin and other cryptocurrencies. His New York-based merchant bank plans to trade cryptocurrencies, handle investments, and manage crypto assets for other clients. Galaxy Digital also plans to advise blockchain startups.

It has become known that Novogratz’s pharmaceutical company Bradmer Pharmaceuticals Inc. is the legal partner, which ensures the legality of the acquisition of company shares by investors. At the same time, the organizer gets the opportunity to list their shares on the Canadian TSX Venture Exchange without making information about the investors public.

The launch of Galaxy Digital symbolizes the return of Novogratz, who left Fortress Investment Group LLC in 2015, to big business. Moreover, the billionaire was included by Forbes in the list of the richest people in the cryptocurrency sector.

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According to https://www.bloomberg.com