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

Goldman Sachs Group Inc. is delaying the US stock offering of its cryptocurrency unit, Galaxy Digital Holdings LLC, to 2022 from 2020 amid uncertainty over regulation in the asset class.,

The “galaxy digital u.s. listing” is a delay from Novogratz’s crypto firm Galaxy Digital to the US stock market in 2022.

Mike Novogratz’s bitcoin investment management business, Galaxy Digital Holdings, will not go public in the United States as anticipated in late 2021.

Galaxy Digital’s plans for a public offering in the United States have been postponed, with the business now intending to go public in the first quarter of 2022, according to the company’s founder and CEO, Michael Novogratz.

He stated, “We look forward to our U.S. listing and the completion of our BitGo purchase, which we now estimate to occur in the first quarter of 2022.”

Galaxy Digital’s proposed listing on an American market has yet to be approved by the Securities and Exchange Commission, according to reports.

After commencing the purchase of bitcoin custodian BitGo earlier this year, Novogratz’s crypto investment manager is still working on finishing the deal. The deal should be completed in the first three months of 2022.

Galaxy Digital revealed its intentions for a public offering in the United States in May, and Novogratz expects the business to go public in the United States in the second half of 2021. The company did not immediately react to a request for comment from Cointelegraph.

Galaxy Digital, one of the world’s biggest crypto investment firms, has already begun trading on a major Canadian stock market. After purchasing local crypto firm Coin Capital in August 2018, the business announced its first-ever listing on Toronto’s TSX Venture Exchange.

Galaxy Digital’s stock, which trades under the ticker code GLXY, has lately seen strong gains, reaching $40 for the first time last week. According to TSX statistics, the stock is now trading at $41, up around 0.2 percent in the last 24 hours.

The TSX Venture Exchange in Toronto is the source of this information.

Galaxy Digital released its third-quarter financial results on Monday. Its net comprehensive income increased to $517 million from $42 million in the previous year’s similar quarter. Galaxy Digital further said that as of October 2021, it handled $3.2 billion in assets.

Stronghold, a bitcoin miner, will float approximately 6 million shares in a $100 million IPO.

“As the crypto economy matures and adoption trends accelerate, pushing asset price hikes and bigger amounts of institutional money into the field, I have never been more positive about our Company’s future,” Novogratz continued.

Galaxy Digital, founded by Michael Novogratz, has delayed its initial public offering (IPO) to 2022. The company had originally planned to list on the New York Stock Exchange in October. Reference: galaxy digital bitgo.

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