Galaxy Launches $100M Hedge Fund for Crypto Bets –
Galaxy, the crypto firm founded by billionaire investor Mike Novogratz, is launching a new $100 million hedge fund focused on digital assets and related stocks.
The plan was reported by the Financial Times. Galaxy said the fund will launch in the first quarter of this year, as crypto markets adjust after a recent sell-off.
The new fund will be able to bet on both rising and falling prices. This gives it more flexibility than long-only crypto products.
LATEST: 💰 Galaxy Digital is launching a $100 million hedge fund to capitalize on rising and falling crypto prices, allocating up to 30% in digital assets and the rest in financial stocks, according to the Financial Times. pic.twitter.com/cfQV0MrgwS
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