Cryptocurrencies
Novogratz’s Plan for a Crypto Merchant Bank Gets a Break -- And a Delay
- Launch pushed back to end of July from late first quarter
- Transaction, listing planned through a reverse takeover
Photographer: Chris Goodney/Bloomberg
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Mike Novogratz’s plan for a publicly traded crypto merchant bank is taking a little longer than expected.
Canadian regulators on May 11 gave his Galaxy Digital LP an exemption from providing annual financial statements for the last two years, but they’re requiring audited disclosures from this year before allowing a listing and trading on Canada’s TSX Venture Exchange, the New York-based firm said in a statement Friday.