Crypto investment firm Galaxy Digital is acquiring the main facility of Bitcoin (BTC) miner Argo Blockchain for $65 million. According to Argo, billionaire Mike Novogratz’s crypto investment firm is buying the mining facility known as Helios in Dickens Country, Texas, as well as providing the struggling company with a $35 million loan. Argo was thrown […]
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After the publicly-listed bitcoin mining firm Argo Blockchain suspended trading on Nasdaq and the London Stock Exchange, the company said it would follow up the next day with an announcement. The following day, on Dec. 28, 2022, Argo detailed it is selling its Helios facility to Galaxy Digital for $65 million, and the financially troubled […]
Galaxy Digital founder and CEO Mike Novogratz is predicting a meteoric ascent for Bitcoin (BTC) that could push the value of the king crypto to heights never seen before. Reminded that he predicted Bitcoin would reach $500,000 by 2025, Novogratz says in a new Bloomberg interview that he still believes BTC could hit his massive […]
The post Billionaire Mike Novogratz Predicts Bitcoin Will Explode by Over 2,800% – But There’s a Catch appeared first on The Daily Hodl.
Crypto asset management firm Galaxy Digital is preparing to acquire self-custody platform GK8 from Celsius, a digital asset lender that collapsed earlier this year. According to a new press release, Galaxy Digital is purchasing the Israel-based institutional-grade custody platform as a means of offering self banking services to its customers. Furthermore, Galaxy Digital plans to […]
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Galaxy Digital CEO Mike Novogratz is predicting that disgraced former FTX CEO Sam Bankman-Fried will face prison time for allegedly committing fraud. In a new interview with CNBC Squawk Box host Andrew Sorkin, the billionaire says Bankman-Fried is failing to take responsibility for his actions, the same ones that led to the downfall of the […]
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Galaxy Digital’s CEO Mike Novogratz talked to Andrew Ross Sorkin on CNBC’s Squawk Box and gave his reaction to Sam Bankman-Fried’s (SBF) recent New York Times (NYT) Dealbook Summit interview. Novogratz said that SBF was “delusional” and insisted that the former FTX CEO needs to be prosecuted and further said, “he will spend time in […]
The Galaxy Digital CEO alleges Sam Bankman-Fried and his cohorts perpetuated fraud and suggested they should be in jail.
Former FTX CEO Sam Bankman-Fried (SBF) has been lambasted this week following a series of controversial public appearances, with Galaxy Digital’s Mike Novogratz one of the latest to dish out a lashing to the former kingpin of crypto.
On Dec. 1, Galaxy Digital CEO Mike Novogratz unleashed a tirade of criticism towards SBF concerning his interview with Andrew Ross Sorkin at the New York Times annual DealBook Summit on Nov. 30.
Speaking to Bloomberg, Novogratz characterized SBF as “delusional” following his declaration in the live interview that he never tried to commit fraud.
“It’s kind of surprising that his lawyers are letting him speak,” Novogratz said before adding “having watched two interviews, the word delusional kept coming to mind.”
The lambasting didn’t stop there with Novogratz echoing the sentiment from many prominent figures in the crypto community that jail time is necessary for the former FTX CEO.
“The reality is that Sam and his cohorts perpetuated a fraud. He stole money from people, people should go to jail.”
Galaxy Digital is among the victims of the FTX collapse having disclosed a $76.8 million exposure to the bankrupt firm.
The former FTX CEO also appears to be taking part in a spree of media appearances over the last few days.
During an interview on Good Morning America on Dec. 1, SBF insisted that FTX was not a “Ponzi scheme” but was “a real business" and denied knowledge of FTX customer deposits being used to pay Alameda's creditors.
In a recent Twitter Spaces interview with IBC Group founder and CEO, Mario Nawfal, SBF again pleaded ignorance to what was occurring with his companies. When asked about what actually happened, his responses were very vague.
“I, you know, basically, and I should caveat this by saying that I, unfortunately, don't have access to most of the data right now,” he said.
The reaction was equally vociferous with many suggesting that SBF was trying to paint a picture of his unfamiliarity and ignorance of what was going on.
Kraken co-founder Jesse Powell also called SBF out for misunderstanding how margin trading works.
SBF is completely full of shit about how margin trading works. He's saying that the whole exchange operated on a net account equity model and anybody could borrow anything (in any amount?) from client funds or from nowhere. That's not how it should work.https://t.co/3k7PkbAHVM
— Jesse Powell (@jespow) December 1, 2022
The creator of BitBoy Crypto, Ben Armstrong is understood to have arranged his own Twitter Spaces event with SBF, set for Dec. 3.
Related: ‘I never opened the code for FTX:’ SBF has long, candid talk with vlogger
Meanwhile, the crypto community has roasted SBF this week over his incoherent responses and lack of accountability.
On Dec. 1, Reflexivity Research cofounder Will Clemente said the NYT interview was painful to watch, adding, “SBF is clearly talking straight out of his ass. Can't give a straight answer or even look at the camera. He's just digging himself a deeper hole ...”
The chief executive of crypto investment firm Galaxy Digital says that the top two leading digital assets aren’t going anywhere despite widespread negative sentiment in the industry. In a new interview on CNBC’s Squawk Box, billionaire Mike Novogratz says that he doesn’t envision king crypto Bitcoin (BTC) and leading smart contract platform Ethereum (ETH) going […]
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Following the FTX collapse and amid the aftermath, people have been wondering about the company’s Crypto Bahamas conference that was scheduled to happen on April 17-20, 2023, at the exclusive Grand Hyatt Baha Mar, in Nassau. The event planned for April 2023 was supposed to be hosted by the now-bankrupt FTX and the Skybridge Capital-backed […]
After Kevin Zhou, the co-founder of the hedge fund Galois Capital, revealed half of the firm’s assets were held on FTX, another crypto asset management firm called Ikigai detailed that “a large majority of the hedge fund’s total assets” were stored on FTX. Ikigai chief investment officer, Travis Kling, told the public on Twitter and […]