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Execs are fleeing Mike Novogratz’s Galaxy Digital as the firm makes a big pivot towards Wall Street

by Frank Chaparro

November 11, 2018, 10:43PM EDT  ·  3 min read

Quick Take

  • Mike Novogratz’s Galaxy Digital is pivoting to address more institutional business
  • As part of those efforts, the firm has seen three major execs leave and it is shutting an office

by Frank Chaparro

November 11, 2018, 10:43PM EDT  ·  3 min read

The good ol’ Friday news dump.

Galaxy Digital, the merchant bank run by famed trader Mike Novogratz, announced on Friday evening that two major executives are stepping down from their positions as the firm shifts its focus to larger institutions from small ICOs. But no one noticed. “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,” the firm said.