TechFlow news, according to the Financial Times, assets under management at Galaxy Digital, led by Mike Novogratz, have grown from $1.7 billion a year ago to $5.3 billion, primarily because Galaxy was appointed administrator of FTX's bankruptcy estate.
The company now intends to expand its operations and is seeking to acquire assets from other bankrupt firms.
Steve Kurz, global head of digital asset management at Galaxy, said the firm has five years of experience in crypto venture investments, and potential targets could include FTX’s real estate and venture portfolios from tech companies, such as equity stakes in AI startup Anthropic.
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