To comply with regulatory requirements cryptocurrency trading Bank Galaxy Digital Holdings Ltd., founded by billionaire Mike Novogratz, made a number of operational and organizational changes in its operations, writes the Newswire.
In particular, the company intends to refuse cooperation with small ICO projects and blockchain-companies in favour of large institutional clients. In this regard, the Bank will expand the number of employees in new York state, but will close the office in Vancouver.
In addition to the end of 2018, the President of the Galaxy Digital Richard Tavoso will move to the position of trusted Advisor and member of the Board of managers. One of the leaders of the direction of trading David Namdar will leave the company, yielding its place to a colleague, Peter Wisniewski.
Recall that due to the significant devaluation of bitcoin in the first quarter of 2018 unrealized losses Galaxy Digital LP totaled $134 million.