After Kevin Zhou, the co-founder of the hedge fund Galois Capital, revealed half of the firm’s assets were held on FTX, another crypto asset management firm called Ikigai detailed that “a large majority of the hedge fund’s total assets” were stored on FTX. Ikigai chief investment officer, Travis Kling, told the public on Twitter and…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Crypto News Summary: FTX to Conduct Fundraiser Next Week, Justin Sun Working on ‘Solution’ for FTX Users, Tron DAO to Buy $1BN Worth of USDT Read more »Sign up for e-EUR…
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Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great number of exchange executives announcing that they had zero material exposure to the troubled exchange. Galaxy Digital Has…
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The exposure amounts represents a small fraction of the firm’s $1.5 billion in liquidity. In its latest quarterly earnings call on Nov. 9, blockchain financial services firm Galaxy Digital disclosed that it had an exposure of $76.8 million consisting of cash and digital assets to troubled cryptocurrency exchange FTX. Of this amount, Galaxy Digital said…
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There are still pockets of hope, however, with some companies looking to expand despite the market conditions. The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend. Crypto companies, including crypto exchanges, venture capital…
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Michael Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings, could let go of up to 20% of the workforce amid the market downturn. Crypto exchange BitMEX has also reduced its staff. According to a report by Bloomberg, there is no official plan for a workforce reduction at Galaxy Digital yet…
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Though the crypto winter seems to be over, its impact on Bitcoin and the crypto market still lingers. Several crypto-related firms have gone down the drain over the pressure in the market. Some are still battling to stay afloat despite the forces’ influence while managing their operations. Most companies related to Bitcoin mining are getting…
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Reddit’s NFT collections have taken some of the top 10 spots on OpenSea and seen millions in sales volume over the past week. Reddit NFTs among OpenSea’s top 10 collections Reddit’s Polygon-based nonfungible token (NFT) venture continues to impress with three of its tokenized avatar collections cracking the top 10 projects on OpenSea in terms…
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During the last two years, a number of public and private companies, exchange-traded products (ETPs), and countries have added bitcoin to their balance sheet. However, during the last nine months of 2022, the number of bitcoin stored in these types of treasuries dropped by 57,481 bitcoin, worth around $1.1 billion using today’s exchange rates. $1.1…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: California Governor Vetoes ‘Premature’ Crypto Bill, Russia to Use Digital Ruble w/ China by Next Year, a Debit Card Enables NFT Avatar Customization + More News Read more »Sign up for…
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