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A look inside crypto firm Galaxy Digital, founded by 'sidelined' Wall Street legend Mike Novogratz

Connie Loizos
A look inside crypto firm Galaxy Digital, founded by 'sidelined' Wall Street legend Mike Novogratz

While Novogratz appears to be beloved by many friends, despite these qualities, or perhaps because of them, he may be more notable as a risk-taker who has racked up big wins -- and big losses -- first at Goldman, then at Fortress Investments. Now, he's trying to rebuild his fortune with his own merchant bank, Galaxy Digital, which describes itself as a "bridge between the crypto and institutional worlds," and which is squarely focused on cryptocurrencies and the promise of new blockchain technologies. At least, as of November, Galaxy had suffered at least $136 million in trading losses.