Galaxy Digital to start $100 million hedge fund targeting crypto, fintech

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Source: CryptoNewsNet Original Title: Galaxy Digital to start $100 million hedge fund targeting crypto, fintech: FT Original Link: https://cryptonews.net/news/finance/32311623/ Galaxy Digital (GLXY), the digital asset investment firm led by Mike Novogratz, is working on a $100 million hedge fund aimed at profiting from the turbulence roiling the digital assets and fintech industries.

The fund, expected to start up in the first quarter, will take both long and short positions, meaning it plans to make money both when prices go up and when they fall.

About 30% of the capital will be allocated to crypto tokens. The rest will target financial services stocks Galaxy believes are being reshaped by digital asset technologies and shifting regulations. It has secured backing from family offices, high-net-worth individuals and institutions and is also seeding the fund itself with an undisclosed amount.

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