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Novogratz’s Galaxy Digital Explores Job Cuts of About 20%

  • Final job cuts could be 15-20% of company’s 375 workforce
  • Widespread job cuts in crypto industry continue amid downturn
Bloomberg business news
Novogratz’s Galaxy Digital May Cut 20% of Workforce
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Galaxy Digital Holdings Ltd., the crypto financial services firm founded by billionaire Michael Novogratz, is exploring eliminating as much as 20% of its workforce against the backdrop of a digital-assets market downturn. 

The plan under consideration could still be changed and the final number could be in a range of 15% to 20%, according to people familiar with the matter. New York-based Galaxy reported 375 employees globally as of the end of the second quarter, which would mean as many as 75 positions could be eliminated.