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## Galaxy Digital’s Assets Tripled to $5.3 Billion Under Mike Novogratz’s Management

Assets under the management of Mike Novogratz’s Galaxy Digital have tripled from $1.7 billion a year ago to a current $5.3 billion, the Financial Times reported on Monday, citing an interview with global head of asset management Steve Kurz.

The increase was mostly attributed to Galaxy being chosen in August by administrators of FTX’s bankruptcy estate to manage certain holdings of the failed crypto exchange. Now, the firm is interested in acquiring assets of other bankrupt companies.

“We have a crypto venture team that has been investing off our balance sheet for five years,” Kurz told the FT. Potential targets could be FTX’s VC portfolio of real estate and technology companies that includes a stake in AI start-up Anthropic.

“The record that we have on that side of our asset management business means weÔÇÖd be a good candidate for something like that,” Kurz continued.

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AI legalese decoder can help in this situation by assisting Galaxy Digital in understanding and deciphering legal contracts and agreements related to acquiring assets of bankrupt companies. The AI technology can quickly analyze and interpret complex legal language, helping Galaxy Digital navigate through potential legal obstacles and make informed decisions regarding the acquisition of assets. This can save time, reduce the risk of misunderstandings, and streamline the due diligence process for the firm.

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