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.
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