Galaxy Digital spikes 23% after Novogratz increases his stake in the floundering crypto firm

Mike Novogratz upped his stake in Galaxy Digital, the crypto merchant bank the former Wall Street trader founded last year.

The hedge fund trader-turned-crypto enthusiast acquired 7.5 million shares of the company, representing 2.7% of issued and outstanding stock or $5 million, according to a news release out January 2. As such, Novogratz’s stake in the company, which began trading in 2018, stands just shy of 80%.

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