The regulatory hurdles in the US have driven several firms to look for greener pastures. Galaxy Digital is the latest to join the growing list.
Amid increased regulatory scrutiny in the United States, Europe has become an attractive destination for crypto firms. Galaxy Digital, the crypto venture led by US billionaire Mike Novogratz, is now venturing into the European market for greener pastures.
As part of this expansion, the company has appointed Leon Marshall, formerly an executive at the crypto broker Genesis, as its first Head of Europe. Marshall is tasked with establishing a regional presence based in London.to the Financial Times that one of the pivotal factors influencing this decision was Europe’s progress in developing legal frameworks for trading digital assets.
Meanwhile, the exec announced plans to onboard staff across Galaxy’s investment banking, asset management, crypto lending, and derivatives businesses. The New York-based firm had been reporting negative quarterly revenues since late 2021. With the subsequent decline in cryptocurrency prices, Galaxy Digital was
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