Galaxy Digital to Shift Base from US Amid Regulatory Crackdown
On Tuesday, May 9, Galaxy Digital CEO Mike Novogratz announced moving their operations outside the US citing a difficult regulatory environment. The Bitcoin bull and billionaire investors said that following the collapse of the crypto exchange FTX, the US regulators have taken a high-handed approach to regulating the crypto market. In a conference call, after the company’s first-quarter earnings, Novogratz said: advertisement “When I look at the short term, we still have a regulatory headache in the United States. I don’t see that breaking anytime soon. We still have a hangover, as well, from the denting of trust that FTX and other bad actors in the space created”. He further added that digital assets have entered into a period of “stasis” currently in the US since the regulatory and financial watchdogs will continue to “regulate with lawsuits”. Crypto Firms Rushing Out of the US As said, the US regulat...