Galaxy Digital Gets Approval to go Public in Canada
Galaxy Digital, the crypto-merchant bank got approved to go public in Canada on August 1st. Mike Novogratz, the Founder and CEO of the bank tweeted with respect to this news and expressed his excitement on it. He went on to say:
“I’m excited to close our transaction in Canada. Our mission is to institutionalize the space, and promote the advancement of the underlying ecosystem and technology behind digital assets and blockchain. I am proud of our team and grateful for the support we’ve received. Onward!”
Novogratz spoke in an interview on this matter speaking on the nature of private and public companies trading in Canada. He went on to explain that the condition of public companies in the Canadian cryptocurrency trading market is below standards, whereas private markets for ICOs of private equity transactions are way beyond what the condition of public companies.
He was also asked his views of taking Galaxy Digital public in a situation where currently the private market is trending. Novogratz stated that the firm went public this year in January. But, because of the regulatory issues that are there in Canada, there has been a blind spot because his firm only came up in August.
Another thing that was asked of him was whether he has any method of stopping his investors from selling because of the collapse of the cryptocurrency market in the gap resulting in the locking up of investors. To this, he replied that everyone has the liberty to decide to the investments one makes. He went on to say:
“…if you want my advice, if the stock goes down buy more, and I believe that. …I think in one year, two years, three years, the complete decentralized crypto blockchain ecosystem is gonna be far far far more significant than it is today and I think we’re gonna build a world-class company.”
Novogratz also mentioned that a lot of work is being done to build an infrastructure for institutions to participate in the cryptocurrency market. Furthermore, he added that the work is going on at a really good pace and is nearing the final step.
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