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Galaxy Digital’s Co-head Of Trading Leaving The Company

Galaxy Digital's Co-head Of Trading Leaving The Company

Robert Bogucki, Galaxy Digital’s co-head of trading, is departing for investment company Brevan Howard’s crypto unit BH Digital, according to a report from Axios.

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Bogucki joined Galaxy Digital in 2021 as co-head of trading alongside Jason Urban. According to LinkedIn, he formerly held managing director positions at many institutions, including Barclays, Merrill Lynch, and Lehman Brothers.

A spokeswoman for Galaxy, Michael Wursthorn, confirmed Bogucki’s departure to Axois.

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He is not the only executive leaving Galaxy Digital. Michael Jordan, the firm’s co-head of investments, is leaving to create a new cryptocurrency fund called DBA Crypto.

Jordan will launch the fund alongside other executives from trading firm Genesis. Genesis has also had a number of departures, including CEO Michael Moro, who resigned on August 17.

Genesis’ leadership changes appear to be a direct result of the company’s recent high-profile losses. Three Arrows Capital (3AC), a bankrupt crypto hedge fund, received a $2.36 billion loan from the trading business. Digital Currency Group (DCG), the firm’s parent business, stepped in to assume the firm’s liabilities and filed a $1.2 billion lawsuit against 3AC.

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Galaxy Digital was likewise exposed to 3AC and is a creditor to the hedge fund. In its most recent quarterly financial report, the investment business reported a $554 million loss and recently canceled a high-profile acquisition of crypto custodian BitGo.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.