RATE Group | The Cryptocurrency Trading Desk of Mike Novogratz Has Already Lost $136 Million in 9 Mon…
50787
post-template-default,single,single-post,postid-50787,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

The Cryptocurrency Trading Desk of Mike Novogratz Has Already Lost $136 Million in 9 Mon…

29 Nov The Cryptocurrency Trading Desk of Mike Novogratz Has Already Lost $136 Million in 9 Mon…

Posted at 05:16h in Cryptocurrency News by

[ad_1]

Mike Novogratz of Galaxy Digital

The heat of cryptocurrency slump is not leaving its impact on retail traders alone – large funds and trading desks are also suffering from it. A prominent one among them is the desk of former Wall Street veteran Mike Novogratz, who was among the first Wall Street bigwigs to bet on cryptocurrencies. From the financial reports filed by his fund for this latest quarter, it’s turning out that his clients have lost as much as $136 million in various cryptocurrencies within the 9 months long period of this year. Certainly, this is not the kind of ROI that any trading desk would want to return to its clients.

The desk of Mike Novogratz, called Galaxy Digital Holdings LP, is required to file detailed financial statements with exchanges and regulators. Those documents provide a rare insight into how market leaders are going managing things during this bear cycle. It turns out from the documents filed recently by Galaxy Digital that during the 3rd quarter the…

[ad_2]

Source link

Tags:
, , , , , , , , ,