Galaxy Digital to Launch New Research Division and Expand Its Team

The cryptocurrency bank Galaxy Digital, led by Mike Novogratz, plans to open a new research division and expand its staff by 40%. The Block reports.

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The division will be led by former senior executive at Fidelity Investments, Alex Thorn. He previously headed its subsidiary venture fund Avon Ventures.

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The executive noted that Galaxy Digital plans to grow the team by 40% in the coming year, focusing on research and client work. According to him, the move reflects the company’s ambition to become a full-service investment bank.

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“Our company will not trade ratings, as stock analysts do. We plan to share our point of view with the whole world,” Thorn added.

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Earlier in January, Galaxy Digital opened a new division for Bitcoin mining. The division was led by former Fidelity Investments executive Amanda Fabiano.

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