Novogratz’s crypto firm Galaxy Digital delays US stock listing to 2022


The crypto company Galaxy Digital, a subsidiary of Novogratz, has postponed its US share listing until 2022.

Galaxy Digital Holdings, Mike Novogratz’s investment management company for cryptocurrency, will not go public in the US at the end of 2021, as the company had previously planned.

As the founder and CEO of Novogratz said on Monday, the founder and CEO of Novogratz announced that Galaxy Digital has postponed plans for a US IPO and is expected to be listed in the first quarter of 2022.

“We look forward to our listing in the US and the completion of the acquisition of BitGo, which we now expect to take place in the first quarter of 2022,” he said.

It is reported that the US Securities and Exchange Commission has not yet approved a possible listing of Galaxy Digital on the US stock exchange.

Cryptocurrency Investment Manager Novogratz is still completing the acquisition of the BitGo cryptocurrency after starting the acquisition earlier this year. The agreement is expected to be terminated during the first three months of 2022.

Galaxy Digital officially announced plans for the company to be listed in the US in May, and Novogratz expects the company to be listed in the US in the second half of 2021. The company did not immediately respond to Cointelegraph’s request for comment.

Galaxy Digital is one of the world’s largest investment companies in cryptocurrency, already listed on a major Canadian stock exchange. The company launched its first listing on the TSX Venture exchange in Toronto in August 2018 after acquiring the local crypto startup Coin Capital.

Galaxy Digital shares, traded under the ticker GLXY, recently made significant gains, exceeding $ 40 for the first time last week. At the time of writing, the stock is trading at $ 41, up approx. 0.2% over the last 24 hours, according to TSX data.

Source: Toronto TSX Venture Exchange
The news comes in the middle of Galaxy Digital’s announcement of results for the third quarter on Monday. Net comprehensive income increased to $ 517 million from $ 42 million in the same period last year. Galaxy Digital also said it has $ 3.2 billion in total assets as of October 2021.

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“With the cryptocurrency economy continuing to grow and adoption trends accelerating, leading to higher asset prices and an increase in institutional capital in this area, I have never been more optimistic about the future of our company,” Novogratz added.



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