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Novogratz’s Galaxy Provides Liquidity on Goldman Bitcoin Futures

  • Goldman restarted its crypto trading desk earlier this year
  • Galaxy expects to add additional investment banks as customers
Michael Novogratz
Michael NovogratzPhotographer: Joe Buglewicz/Bloomberg
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Galaxy Digital Holdings Ltd. will serve as a liquidity provider on Bitcoin futures for Goldman Sachs Group Inc. as the securities firm re-enters the cryptocurrency markets.

The digital-asset firm started by billionaire investor Michael Novogratz, a former Goldman partner, will provide futures block liquidity on CME Group Inc. for the Bitcoin cash-settled products, according to a statement. Liquidity providers typically make markets by agreeing to buy and sell assets at certain prices.