News

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.

CEO of Galaxy Digital, Michael Novogratz

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.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

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.