Share this article
Michael Novogratz Tells CNBC He Does Not Expect to Recover $77M Exposure Linked to FTX
The comments come a day after the firm revealed the exposure in its quarterly earnings.
Updated May 9, 2023, 4:02 a.m. Published Nov 10, 2022, 12:48 p.m.
Michael Novogratz, the CEO of crypto-focused financial-services firm Galaxy Digital (GLXY), told CNBC that he does not think they will be able to recover the $77 million exposure linked to troubled crypto exchange FTX.
His comments come a day after the firm revealed the exposure in its third quarter earnings.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Galaxy Digital also reported a third-quarter net loss of $68.1 million, compared with a $517.9 million profit in the same period last year, and said Damien Vanderwilt will step down as co-president in January.
Share of Galaxy Digital were down 15.7% at $3.92 as of yesterday's close.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion
The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.
What to know:
- Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
- The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
- The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
Top Stories
