Galaxy Digital Could Lay Off 20% Of Its Staff

According to Bloomberg, citing persons familiar with the situation, Galaxy Digital may lay off up to 75 employees.

Mike Novogratz’s company may lay off 15% to 20% of its workforce. According to Michael Wursthorn, a Galaxy representative, the company is continually analyzing its ideal team structure and strategy. He stated:

“While our industry continues to face macroeconomic headwinds, Galaxy remains focused on building for the future state of institutional adoption and on enhancing long-term shareholder value.”

The crypto bear market has led to the downturns of many companies in the industry. For example, Coinbase and BlockFi also had to cut staff.

As Coincu reported, Robert Bogucki, Galaxy Digital’s co-head of trading, had departed for investment company Brevan Howard’s crypto unit BH Digital in September.

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