Novogratz’s cryptocurrency company Galaxy Digital postpones the listing of U.S. stocks to 2022

Galaxy Digital Holdings, Mike NovogratzThe cryptocurrency investment management company will not be listed in the United States by the end of 2021 as the company previously planned.

Galaxy Digital has postponed its plans to go public in the United States and is currently expected to go public in the first quarter of 2022. The company’s founder and CEO Novogratz said, Announce on Monday.

“We look forward to our listing in the US and completing the acquisition of BitGo, and we now expect this to happen in the first quarter of 2022,” he said.

According to reports, the US Securities and Exchange Commission has not approved the possibility of Galaxy Digital being listed on the US exchange. Said.

Novogratz’s cryptocurrency investment manager also completed the acquisition of cryptocurrency custodian BitGo Start buying Earlier this year. The acquisition is expected to be completed in the first three months of 2022.

Galaxy Digital Official Announce The company plans to go public in the United States in May, and Novogratz expects the company to go public in the United States in the second half of 2021. The company did not immediately respond to Cointelegraph’s request for comment.

Galaxy Digital is one of the largest crypto investment companies in the world and is already trading on a major Canadian stock exchange.The company first launched Listed on the Growth Enterprise Market of the Toronto Stock Exchange of Toronto After acquiring the local cryptocurrency startup Coin Capital in August 2018.

Galaxy Digital’s stock code is GLXY, and it has risen sharply recently, exceeding $40 for the first time last week. According to data from the Toronto Stock Exchange, at the time of writing, the stock was trading at $41, an increase of approximately 0.2% in the past 24 hours data.

Source: TSX Venture Exchange in Toronto

The news came as Galaxy Digital announced its third-quarter financial results on Monday. Its consolidated net income soared to US$517 million from US$42 million in the same period last year. Galaxy Digital also reported that as of October 2021, it had $3.2 billion in assets under management.

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“As the crypto economy continues to mature and the adoption trend accelerates, pushing asset prices up and more institutional capital entering the field, I have never been so optimistic about the future of our company,” Novogratz added.