TechFlow news, May 16 — According to CNBC, Galaxy Digital founder Mike Novogratz revealed that the company spent nearly four years and over $25 million to complete its U.S. listing process, calling the experience "un-American, unfair, and infuriating." He stated that a process which typically takes 45–90 days was stretched to 1,320 days, involving nine rounds of reviews with the SEC. Previously listed only on the Toronto Stock Exchange, Novogratz noted that the depth of the U.S. market is 30 times greater than Canada's, and had the company entered the U.S. market earlier, its development would have been vastly different.
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